Prakash Steelage: Dheliben Seth Acquires 5.50% Stake via Gift

Prakash Steelage Limited has filed a disclosure regarding a substantial acquisition of shares by Dheliben Mafatlal Seth. The acquisition, an inter-se transfer of shares by way of gift amongst immediate relatives, involved 96,25,000 equity shares, representing 5.50% of the diluted share capital. The transfer occurred at NIL price. Following the transaction, Dheliben Mafatlal Seth's shareholding increased from 0.29% to 5.79%, while Prakash C. Kanugo's shareholding decreased from 13.82% to 8.31%. The filing was made under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, exempting the acquirer from making an open offer.