The Exchange has received the disclosure under Regulation 10(7) in respect of acquisition under Regulation 10(1)(a)(i)of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
Awaiting price reaction for this filing.
Shantanu Daga, a member of the promoter group, acquired 321,750 equity shares (10.74%) from Asha Devi Daga (his grandmother) through an off-market gift transfer with no monetary consideration. The acquisition was exempt under Regulation 10(1)(a)(i) and (ii) of SAST Regulations as an inter-se transfer among promoter group relatives. Shantanu Daga's holding increased from 2.50% to 13.24%, while Asha Devi Daga's holding reduced from 10.74% to 0%. The company's shares are suspended on BSE. The total promoter group holding increased from 33.63% to 44.37% of the company's share capital.
The transaction consolidates promoter holding within the family without any cash outflow. The promoter group now holds 44.37%, still below the 50% threshold, but approaching levels that would trigger open offer requirements for further acquisitions.