Sonal Adhesives Limited has submitted a disclosure to the Bombay Stock Exchange (BSE) under Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The disclosure pertains to the acquisition of 4,75,400 equity shares, each with a face value of ₹10, due to the transmission of shares following the death of a promoter group member, Ms. Kamal Arora.
The shares have been transmitted to the following three individuals, all members of the promoter group:
- Mr. Sandeep M. Arora: 3,30,031 shares
- Ms. Megha M. Arora: 63,269 shares
- Ms. Mona M. Arora: 82,100 shares
The company states that this transmission is exempt from the obligation to make an open offer under Regulation 10(1)(g) of the SEBI Takeover Regulations, as the transaction is amongst the promoter group. Consequently, the aggregate shareholding of the entire promoter and promoter group remains unchanged at 4,75,400 equity shares, which represents 11.54% of the total share capital.
Shareholding Details
Pre-Transaction Holding:
- Ms. Kamal Arora: 4,75,400 shares (7.84% of total capital)
- Ms. Megha M. Arora: 1,42,000 shares (2.34%)
- Ms. Mona M. Arora: 82,000 shares (1.35%)
- Mr. Sandeep M. Arora: 0 shares
Post-Transaction Holding:
- Mr. Sandeep M. Arora: 3,30,031 shares (5.45%)
- Ms. Megha M. Arora: 2,05,269 shares (3.38%)
- Ms. Mona M. Arora: 1,64,100 shares (2.70%)
- Ms. Kamal Arora: 0 shares
The disclosure was signed by Mr. Sandeep M. Arora, Managing Director (DIN: 00176939), on behalf of the company.