The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Mehul Jadavji Shah
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Mr. Mehul Jadavji Shah has acquired 30,706 equity shares, representing 19.04% of the diluted share capital of Shah Construction Company Limited, from Mrs. Jaywanti Jadavji Shah through an off-market inter-se transfer among the promoter and promoter group without any consideration (treated as a gift). The transaction falls under Regulation 10(1)(a)(ii) of SEBI's Takeover Regulations, which exempts inter-se promoter transfers from the open offer requirement. As a result, Mr. Mehul Shah's holding moved from 0% to 19.04%, while Mrs. Jaywanti Shah's holding went from 19.04% to 0%. The aggregate promoter and promoter group shareholding remains unchanged before and after the transaction.
This is a reshuffling of shares within the promoter family (likely between mother and son) with no change in the total promoter stake, so it is largely neutral for shareholders and unlikely to move the share price. However, it means voting power within the promoter group has now shifted to Mr. Mehul Shah, which could be relevant for future corporate decisions.