DCM Shriram Industries Ltd: Promoter Relatives Acquire 30.94% Stake
DCM Shriram Industries Ltd has received a disclosure regarding the acquisition of approximately 30.94% of the company's equity shares. The acquisition is being made by Madhav Bansidhar Shriram under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, exempting the need for an open offer. The shares are being acquired through inter-family gifts from promoters and their immediate relatives, specifically from Shri Alok Bansidhar Shriram, Smt. Urvashi Tilakdhar, and Lala Bansi Dhar & Sons (HUF). The acquisition price is ₹40.67 per share, which is not more than 25% of the price computed based on market trading data. This transaction involves a transfer of shares within the promoter group, with no change in the overall promoter shareholding percentage.
Key Highlights
- Madhav Bansidhar Shriram to acquire 30.94% stake in DCM Shriram Industries.
- Acquisition is an inter-family gift, exempting open offer requirements.
- Shares acquired from Alok B. Shriram, Urvashi Tilakdhar, and Lala Bansi Dhar & Sons (HUF).
- Acquisition price set at ₹40.67 per share.
- Promoter shareholding remains unchanged at 50.11% post-transaction.
Price Impact
More from DCMSRMIND