Madan Gopal Agarwal has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
VMART · price
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V-Mart Retail promoter Mr. Madan Gopal Agarwal has informed the exchanges of a proposed acquisition of 10,41,953 equity shares (5.25% of paid-up capital) directly from promoter Lalit Agarwal, through a gift without any consideration. He is also acquiring 13,908 equity shares and 1,97,33,161 compulsory convertible debentures of promoter holding company Conquest Business Services Pvt. Ltd. (which holds 37.75% in V-Mart), as part of an HUF partition. After the transaction, Madan Gopal Agarwal's direct holding will rise from nil to 5.25%, while Lalit Agarwal's stake will drop from 6.43% to 1.18%. The transaction qualifies for exemption from an open offer under Regulation 10(1)(a)(i) as an inter-se transfer among immediate relatives. V-Mart is also issuing bonus shares in a 3:1 ratio, and the acquired stake will be adjusted to maintain the 5.25% proportion. The acquisition is expected on or after June 27, 2025.
This is a reorganisation of promoter family holdings rather than a change in overall promoter control, so there is no impact on the company's free float or open offer obligations. Shareholders need not take any action, and the share price is unlikely to be materially affected since no money changes hands and the total promoter shareholding remains essentially the same.