The Exchange has received the disclosure under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
TAINWALCHM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Rakesh Dungarmal Tainwala has disclosed a proposed gift transfer of 6,00,232 equity shares (6.41% of total share capital) from his brother Rajkumar Tainwala. No consideration is involved as it is an inter-se transfer between immediate relatives via gift deed. The acquisition falls under Regulation 10(1)(a)(i) and is exempt from making an open offer. Pre-transaction, Rajkumar Tainwala held 6,05,060 shares (6.46%) and Rakesh held zero shares. Post-transaction, Rajkumar's holding drops to just 4,828 shares (0.05%) while Rakesh holds 6,00,232 shares (6.41%). The promoter group (including Ramesh Tainwala at 31.31%, Concept Reality and Securities at 19.29%, and others) collectively holds 67.89% post-transaction.
This is a routine intra-family transfer of promoter shares via gift with no cash consideration, so no open offer trigger is activated. It increases the acquirer's direct holding from 0% to 6.41% and reduces the transferor's stake to near zero. No direct market impact expected.