Shareholding10 Jun 2026, 05:31 pm
Pawan Kumar Modi Acquires 22.30% Stake in National General Industries
AI Summary
Pawan Kumar Modi has acquired 9,99,515 equity shares, representing 22.30% of the total equity, in National General Industries Limited from his brother, Ashok Kumar Modi. This acquisition was made through an inter-se transfer of shares amongst immediate relatives, qualifying as a gift without any consideration. Consequently, Pawan Kumar Modi's shareholding in the company has increased from 13.87% to 36.16%. The transaction is exempt from making an open offer under Regulation 10(1)(a)(i) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.
Key Highlights
- Pawan Kumar Modi acquired 22.30% stake in National General Industries.
- Acquisition was a gift via inter-se transfer from brother Ashok Kumar Modi.
- No open offer required due to exemption under Takeover Regulations.
- Pawan Kumar Modi's total shareholding increased to 36.16%.
- Transaction was without consideration (off-market gift).
Price Impact
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