The Exchange has received the disclosure under Regulation 29(2) & 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Gangadhar Srinivas Velamati
VELJAN · price
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Gangadhar Srinivas Velamati, a member of the promoter group of Veljan Denison Ltd, acquired 2,53,752 equity shares (5.64% of paid-up capital), taking his holding from 11.50% to 17.14%. Sri Krishna Uppaluri acquired an equal 2,53,752 shares, becoming a 5.64% holder from zero. The shares were transferred by Chukkamamba Sri Velamati, who held them as nominee/surviving holder. This transfer was made pursuant to the registered will dated 28.06.2019 of the deceased promoter Mr. Velamati Chandra Sekhar Janardan Rao. Total promoter group shareholding remains well above 50% post the transaction. No open offer is triggered as it qualifies for inter-se transfer exemption under Regulation 10 of SEBI Takeover Regulations.
This is a private testamentary transfer within the promoter family — no new dilution for minority shareholders, no change in overall control, and no cash transaction. The stock price is unlikely to be materially affected as it is essentially a redistribution of shares within the promoter group to rightful beneficiaries.