Key Quantitative Figures

  • Acquisition of 96,25,000 equity shares of face value Re. 1 each
  • Acquisition represents 5.50% of total share capital of Prakash Steelage Limited
  • Total shares outstanding: 17,50,00,390 equity shares
  • Acquisition price: Nil consideration (gift transfer)
  • SEBI filing fees: ₹1,50,000 plus GST @18% of ₹27,000, totaling ₹1,77,000
  • Online transaction reference: DICINVF1VOIY3B

Dates of Action

  • Proposed acquisition date: September 8, 2026
  • Regulation 10(5) disclosure to stock exchanges: September 2, 2026
  • Regulation 10(6) disclosure to stock exchanges: September 9, 2026
  • Regulation 29(1) disclosure: September 9, 2026
  • Regulation 10(7) report to SEBI: September 11, 2026
  • Fee payment date: September 10, 2026

Parties Involved

Acquirer: Dheliben Mafatlal Seth (sister of transferor, promoter of company)

Transferor/Seller: Prakash C. Kanugo (brother of acquirer, promoter of company)

Persons Acting in Concert (PACs): Seth Iron & Steel Private Limited, Ashok Mafatlal Seth, AMS Trading and Investment Private Limited, Seth Ashok Mafatlal HUF, Mafatlal Chogamal Seth, Nirmala Ashok Seth (Deceased), Kamal Prakash Kanugo, Hemant Prakash Kanugo, Vimal Prakash Kanugo, Kirti Prakash Kanugo, Babita Prakash Kanugo (Deceased)

Regulatory Authorities: Securities and Exchange Board of India (SEBI), BSE Limited, National Stock Exchange of India Limited

Shareholding Impact

Pre-acquisition holding (acquirer + PACs): 3,45,52,689 shares (19.76% of total capital)

Post-acquisition holding (acquirer + PACs): 4,41,77,689 shares (25.26% of total capital)

Transferor holding change:

  • Pre-transfer: 2,41,75,040 shares (13.82%)
  • Post-transfer: 1,45,50,040 shares (8.31%)

Individual acquirer holding change (Dheliben Mafatlal Seth):

  • Pre-acquisition: 5,00,000 shares (0.29%)
  • Post-acquisition: 1,01,25,000 shares (5.79%)

Transaction Details

  • Mode of acquisition: Inter-se transfer among immediate relatives by way of gift
  • Execution method: Gift deed
  • No consideration involved in the transfer
  • Shares are frequently traded on BSE and NSE

Document References

  • Annexure A: Fee payment receipt
  • Annexure B: Regulation 10(5) disclosure dated September 2, 2026
  • Annexure C: Regulation 10(6) disclosure dated September 9, 2026
  • Annexure D: Regulation 29(1) disclosure dated September 9, 2026