Transaction Details
The company has received information regarding a proposed inter-se transfer of shares among promoter group members:
- Acquirer: Mr. Raj Rushabh Patel (Promoter)
- Seller: Mrs. Indiraben N. Patel (Promoter)
- Transaction Type: Off-market transfer by way of gift
- Number of Shares: 118,526 equity shares
- Percentage of Share Capital: 3.78%
- Consideration: Nil (gift transaction)
- Relationship: Acquirer is grandson of the transferor
Regulatory Exemption
The transaction qualifies for exemption from making an open offer under Regulation 10(1)(a)(i) of SEBI (SAST) Regulations, 2011 as it constitutes an inter-se transfer among qualifying persons within the promoter group.
Shareholding Impact
Pre-Transaction Holdings:
- Mr. Raj Rushabh Patel: 1,154,135 shares (36.85%)
- Mrs. Indiraben N. Patel: 118,526 shares (3.78%)
Post-Transaction Holdings:
- Mr. Raj Rushabh Patel: 1,272,661 shares (40.63%)
- Mrs. Indiraben N. Patel: 0 shares (0%)
Aggregate Promoter Group Holding: Remains unchanged before and after the transaction.
Declarations and Compliance
The acquirer has declared that:
- All conditions specified under Regulation 10(1)(a) of SEBI (SAST) Regulations, 2011 have been duly complied with
- The transferor and transferee have complied with requirements for inter-se transfer under Regulation 10(1)(a)(i)
- No consideration is involved as the transfer is by way of gift
- Market price declarations are not applicable due to the gift nature of the transaction
Financial Impact
No financial impact as the transaction involves no cash consideration and is structured as a gift transfer.
Correspondence Details
The disclosure was submitted to BSE Limited at Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400001, with copy to The Company Secretary, Parshwanath Corporation Limited at 50 Harsiddha Chambers, 3rd Floor, Ashram Road, Ahmedabad, Gujarat, India 380012.