Rakesh Dungarmal Tainwala 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
TAINWALCHM · price
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Rakesh Dungarmal Tainwala (acquirer) will receive 5,86,464 equity shares (6.26% stake) from his brother and promoter Rajkumar Tainwala through an inter-se gift transfer. This is a revision from the earlier disclosure which stated 6,00,232 shares (6.41%). The transfer has no monetary consideration as it is a gift between immediate relatives. Rajkumar Tainwala's holding will reduce from 6.46% to just 0.20% after the transaction. Rakesh was not previously a promoter of the company. The transaction qualifies for exemption under Regulation 10(1)(a)(i) of SEBI SAST Regulations. The proposed date of acquisition is on or after June 1, 2026.
This represents a consolidation of promoter holdings within the Tainwala family, with Rajkumar Tainwala divesting nearly his entire stake while his brother Rakesh becomes a new 6.26% shareholder. The transfer between immediate relatives with no consideration is exempt from open offer requirements.