Nature of the Disclosure
This is a mandatory disclosure filed by The Supreme Industries Limited with the National Stock Exchange of India Ltd. (NSE) and BSE Limited under Regulation 10(6) of the SEBI (Substantial Acquisition of Share and Takeover) Regulations, 2011. The disclosure was received from Shri Vijay Kumar Taparia, a Promoter and Executive Director of the company.
Key Quantitative Figures & Transaction Details
The disclosure pertains to the acquisition of 317,398 equity shares by Vijay Kumar Taparia. The mode of acquisition was transmission of shares. This transaction increased his shareholding from 244,890 shares (0.19% of total share capital) to 562,288 shares (0.44% of total share capital). The shares were transmitted from the late Shri Bajranglal Taparia, who held 317,398 shares (0.25% of total capital) prior to the transaction.
Regulatory Context and Exemption
The acquisition was made in reliance upon the exemption provided under Regulation 10(1)(g) of the SEBI (SAST) Regulations, 2011, which pertains to acquisitions pursuant to transmission or inheritance. The disclosure confirms that a disclosure under regulation 10(5) was not applicable for this transaction.
Parties Involved
Acquirer/Transferee: Mr. Vijay Kumar Taparia (Promoter and Executive Director)
Transferor/Seller: The late Shri Bajranglal Taparia
Company Making the Filing: The Supreme Industries Limited (BSE Scrip Code: 509930, NSE Scrip Code: SUPREMEIND)
Company Officials: The filing letter was signed by R. J. Saboo, VP (Corporate Affairs) & Company Secretary. The disclosure form was signed by Vijay Kumar Taparia.
Financial and Capital Structure Impact
The transaction results in a change in the promoter's shareholding. Vijay Kumar Taparia's holding increased by 317,398 shares, representing a 0.25% increase in the total diluted share capital of the company. The financial impact of the acquisition itself is not quantified in the disclosure, as it was a transmission and not a purchase for cash.