The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Genesis Developers & Holdings Ltd
Awaiting price reaction for this filing.
Genesis Developers & Holdings Ltd has acquired 91,66,300 equity shares (16.06%) of Shri Niwas Leasing And Finance Ltd through an off-market inter-se transfer dated 9 April 2025. Genesis is not part of the promoter/promoter group. Its holding in the company jumped from 2,33,700 shares (5.85%) before the deal to 96,33,700 shares (21.91%) after, crossing the 20% substantial acquisition threshold under SEBI takeover rules. The target company's total equity share capital increased from 39,97,000 to 4,39,67,000 shares (face value Rs 10, Rs 5 paid up) around the same time, suggesting a simultaneous capital restructuring. The acquisition was an inter-se transfer, which in certain cases can be exempt from the mandatory open offer requirement under SEBI (SAST) Regulations.
A non-promoter entity now holds over one-fifth of the company, which is a major shift in shareholding. Shareholders should watch for whether SEBI treats this inter-se transfer as exempt from the open offer trigger, and any further disclosures on the nature of the transfer and related parties.