Simran G. Mehra has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Simran G. Mehra, a promoter of Savita Oil Technologies Limited, is proposing to acquire 83,120 equity shares (0.12% of share capital) from the Simran Family Trust. This transfer is part of the dissolution of the Simran Family Trust, where Simran G. Mehra is the sole beneficiary. No consideration is payable as the shares will be transferred to the sole beneficiary. The transaction qualifies for exemption under Regulation 10(1)(a)(ii) as an inter-se transfer among promoters. After the acquisition, Simran G. Mehra's holding will increase from 0.22% to 0.34%, while the total promoter group holding remains unchanged at 68.93%.
This is a minor intra-promoter group transfer with no change in total promoter holding or open offer requirement. The deal is exempt from open offer as it meets the conditions under Regulation 10(1)(a)(ii). No direct impact on minority shareholders or stock price expected.