Key Transaction Details

  • Date of Transaction: The acquisition of shares occurred on June 16, 2026.
  • Parties Involved: The transferor was Ms. Rejal Sheth. The acquirer/transferee was Mr. Shalin Sheth, a promoter of the company.
  • Number of Shares Transferred: 10,00,000 (Ten Lakh) equity shares were transferred.
  • Percentage of Share Capital: The transferred shares represent 9.14% of the paid-up share capital of Advait Energy Transitions Limited.
  • Transaction Type & Consideration: The transfer was an off-market inter-se transfer among persons belonging to the Promoter Group. It was executed as a Gift, and therefore, no monetary consideration was involved (Acquisition price per share: Nil).
  • Relationship: The acquirer, Shalin Sheth, is the spouse of the transferor, Rejal Sheth, making them immediate relatives as defined in the regulations.

Rationale and Regulatory Exemption

The transaction is stated to be pursuant to the dissolution of a trust and distribution/transfer of trust assets to the beneficiary. The company and the acquirer have claimed an exemption from the obligation to make an open offer under Regulation 10(1)(a)(ii) of the SEBI SAST Regulations, which covers acquisitions pursuant to a scheme of arrangement or compromise under various laws including the Companies Act. A declaration confirms all conditions for this exemption have been complied with.

Shareholding Impact

  • Shalin Sheth (Acquirer): His shareholding increased from 56,02,500 shares (51.20%) to 66,02,500 shares (60.34%).
  • Rejal Sheth (Transferor): Her shareholding decreased from 16,28,179 shares (14.88%) to 6,28,179 shares (5.74%).
  • Aggregate Promoter Group Holding: It is explicitly stated that the aggregate shareholding of the Promoter and Promoter Group remains unchanged pre and post this inter-se transfer.

Regulatory Compliance and Filings

The disclosure confirms that all requisite filings under the SEBI SAST Regulations were completed within the specified timelines:

1. Regulation 10(5) Prior Intimation: Filed with the stock exchanges on June 9, 2026 (at least 4 working days before the proposed acquisition date).

2. Regulation 10(6) Post-Acquisition Report: Filed with the stock exchanges on June 19, 2026 (within 4 working days after the acquisition date). This filing included a disclosure under Regulation 29(2).

3. Regulation 10(7) Report to SEBI: This main report was filed by the acquirer, Shalin Sheth, with SEBI on July 4, 2026 (within 21 working days of the acquisition).

Fees Paid

An application fee of ₹1,50,000 plus GST @18% of ₹27,000, aggregating to ₹1,77,000, was paid to SEBI for the Regulation 10(7) report filing. The payment was made via internet banking on July 4, 2026 (Reference No: DICI53L1OQJY20).

Financial and Capital Structure Impact

The transaction resulted in a change in individual promoter holdings but no change to the company's total share capital or the aggregate promoter group holding. As the shares were transferred by way of gift with no consideration, there is no direct cash flow impact on the company.

Attachments and Authorizations

The letter from the company's Compliance Officer, Deepa Fernandes, states that the report as filed by the acquirer to SEBI and its payment receipt are enclosed for the exchanges' records. The acquirer, Shalin Sheth, has signed all declarations confirming the accuracy of the information and compliance with regulations.