The Exchange has received the disclosure revised under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
Awaiting price reaction for this filing.
Indiabulls Enterprises Ltd filed a revised disclosure (same day, May 15, 2025) correcting an earlier filing where PAC names were inadvertently omitted. The transaction involves promoter group entity Zwina Infrastructure Private Limited transferring 4,17,25,150 shares (21.04% of share capital) equally to two other promoter group entities — Inuus Developers Private Limited and Valerian Real Estate Private Limited — between May 22 and May 26, 2025. The price will be at market rate or up to 25% above the 60-day VWAP of INR 16.95. Post-transaction, Inuus and Valerian each rise from 5.44% to 15.96% stake, while Zwina's holding goes to zero. Combined promoter plus PAC holding remains at 36.32% of the company after the transfer.
This is an internal reshuffling within the promoter group with no change in total promoter control or valuation impact for outside shareholders. No open offer is triggered as the exemption under Regulation 10(1)(a)(ii) applies for inter-se promoter transfers. Shareholders should note that voting power gets concentrated in two specific promoter entities going forward.