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, ....
Awaiting price reaction for this filing.
Shantanu Daga, a member of the promoter group, is acquiring 3,21,750 equity shares (10.74% of share capital) from Asha Devi Daga (also a promoter group relative) purely as a gift with no consideration. The transfer qualifies for exemption from the open offer requirement under Regulation 10(1)(a)(i) & (ii) as it is an inter-se transfer between promoter group relatives. Post-transaction, Shantanu Daga's individual holding rises from 2.50% to 13.24%, while total promoter group holding increases from 33.63% to 44.37% of the company. The acquisition is proposed on or after 6th March 2026, and the company's shares are currently suspended from trading on BSE.
No change in overall promoter group control since this is a reshuffling within the promoter family; minority shareholders are unaffected. The lack of consideration and suspended trading mean this is a neutral event for the stock price.