Transfer of 214700 Equity shares from Mrs. Badam Bai Kothari to Mr. Ashok Kumar Jain @ Rs.10 per share
Awaiting price reaction for this filing.
Mahaveer Infoway Ltd informed BSE about an inter-se promoter transfer of 2,14,700 equity shares (3.89% of total share capital of 55,09,000 shares) executed off-market on 4 September 2025 at Rs. 10 per share, totalling Rs. 21,47,000. Promoter Mrs. Badam Bai Kothari sold her entire 3.89% holding, bringing her stake to Nil. Promoter Mr. Ashok Kumar Jain acquired the same quantity, taking his stake from 28.01% (15,43,328 shares) to 31.91% (17,58,028 shares), crossing the 30% mark. The disclosures were filed under SEBI Takeover Regulations (Reg 29(2)) and Insider Trading Regulations (Reg 7(2) read with Reg 6(2)).
This is a reshuffling within the promoter group rather than a change in overall promoter control, so combined promoter holding remains the same. For shareholders, the key takeaway is that one promoter (Mr. Jain) has consolidated his position above 30%, which means further acquisitions by him will be more tightly regulated under takeover rules. No open offer is triggered here as inter-se promoter transfers are typically exempt under Regulation 10 of the Takeover Code.