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, ....
VELJAN · price
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Awaiting price reaction for this filing.
Veljan Denison Ltd has informed the exchange about an internal promoter-group reshuffle involving 5,07,504 equity shares (11.28% of share capital) being transferred as a gift via the registered Will of deceased promoter Late Mr. VC Janardan Rao. The shares are moving from Mrs. Velamati Sree Chukkamamba (nominee of the deceased promoter) to two promoters — Velamati Gangadhar Srinivas and Uppaluri Sri Krishna (Managing Director) — with each acquiring 2,53,752 shares (5.63% each) at Nil consideration. Post-transaction, Srinivas's holding rises from 5.63% to 9.04% and Uppaluri Sri Krishna's holding rises from 9.04% to 17.15%, while the seller's stake drops from 30.92% to 19.64%. The transfer is an exempted inter-se transfer among immediate relatives of the promoter family, so no open offer obligation arises. Total promoter-group shareholding remains unchanged — only the distribution within the family changes.
This is a non-event for the stock price — it's a family succession/internal reorganization at zero cost, with no change in total promoter control or fresh capital raised. Shareholders should note that promoter succession has now been formally executed, which may slightly reduce future overhang uncertainty from the deceased promoter's estate.