The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Gangadhar Srinivas Velamati
VELJAN · price
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Veljan Denison Ltd's promoter group member Gangadhar Srinivas Velamati, along with Sri Krishna Uppaluri, acquired a total of 507,504 equity shares (253,752 each) representing 11.27% of share capital from Chukkamamba Sri Velamati, who held these shares as a nominee/surviving holder under the Will of a deceased promoter. The transfer was an inter-se promoter family reshuffling with no purchase price applicable. Post-transaction, Gangadhar's stake rose from 11.50% to 17.14%, while Chukkamamba's holding reduced from 30.9% to 19.64%. The transaction is exempt from open offer obligations under Regulation 10(1)(a)(i) & (ii) of SEBI SAST Regulations, 2011, and the required Regulation 10(5) disclosure was made on time.
This is purely an internal promoter family reshuffling with no change in combined promoter holding and no open offer obligation, so it is neutral for existing shareholders and unlikely to impact the stock price.