Madhav Infra Projects Limited has made a disclosure to BSE Limited pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received information from persons forming part of the Promoter Group regarding their intention to acquire equity shares through an off-market inter-se transfer between promoter and promoter group without consideration.
Transaction Details
The proposed transaction involves the transfer of 7,57,16,940 equity shares (representing 28.087% of the share capital) from Mr. Ashok Madhavdas Khurana (Promoter/Transferor) to three entities within the Promoter Group:
- Mr. Amit Khurana: 86,88,614 shares (3.223%)
- Mrs. Neelakshi Amit Khurana: 54,34,764 shares (2.016%)
- Armaan Amit Trust: 6,15,93,562 shares (22.848%)
The transaction is proposed to occur on or after August 12, 2026, by way of gift with no consideration involved.
Shareholding Changes
The disclosure includes detailed shareholding changes for each entity:
Before Transaction:
- Mr. Amit Ashok Khurana: 47,91,240 shares (1.777%)
- Mrs. Neelakshi Amit Khurana: 80,43,120 shares (2.984%)
- Armaan Amit Trust: 8,13,60,000 shares (30.180%)
- Mr. Ashok Madhavdas Khurana: 7,57,16,940 shares (28.087%)
After Transaction:
- Mr. Amit Ashok Khurana: 1,34,79,854 shares (5.00%)
- Mrs. Neelakshi Amit Khurana: 1,34,77,884 shares (5.00%)
- Armaan Amit Trust: 14,29,53,562 shares (53.03%)
- Mr. Ashok Madhavdas Khurana: 0 shares (0%)
Declarations and Compliance
The acquirers have declared that:
- The transferor and transferee will comply with applicable disclosure requirements under Chapter V of the SEBI (SAST) Regulations, 2011
- All conditions specified under Regulation 10(1)(a) with respect to exemptions have been duly complied with
- Market price computations are not applicable as it is an inter-se transfer via gift deed
The disclosure was signed by Mr. Amit Ashok Khurana (Promoter) on behalf of all acquirers on August 06, 2026, in Vadodara.