Apis India: Promoter Group Gift of 7.77% Shares

Apis India Limited has disclosed an off-market inter-se transfer of 1,07,00,000 equity shares, representing 7.77% of the total share capital, by way of gift. Mrs. Sakshi Anand, a promoter, transferred these shares to Mr. Amit Anand, a member of the promoter group. This transaction falls under the exemption provided by Regulation 10(1)(a)(i) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and therefore, does not require an open offer.