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, ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Rahul Maheshwari, a Non-Executive Director and son of promoter group member Smt. Umadevi Maheshwari, is acquiring 4,83,644 equity shares (3.18% of share capital) from his mother. The transfer is by way of a gift deed with no consideration, made out of natural love and affection. After this transfer, Rahul's holding rises from 0.39% to 3.58%, while Umadevi's entire 3.18% holding moves to NIL. The acquisition is exempt from the open-offer requirement under Regulation 10(1)(a)(i) of SEBI Takeover Regulations, as the acquirer has been disclosed in the public shareholding pattern for at least three years.
This is an internal promoter family reshuffle with no cash transaction or change in overall promoter group control, so it should not materially affect the stock price. It signals consolidation of promoter shareholding within the family, with voting and beneficial interest remaining within the promoter group.