Prakash Steelage: Promoter's Sister Acquires 5.50% Stake via Gift

Prakash Steelage Ltd has received a disclosure regarding the acquisition of 96,25,000 equity shares, representing 5.50% of the total share capital, by Dheliben Mafatlal Seth from her brother, Mr. Prakash C. Kanugo. The transfer is by way of a gift, with no consideration involved. This transaction falls under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, which provides an exemption from open offer requirements for inter-se transfer of shares among immediate relatives and promoters. Both transferor and transferee will comply with applicable disclosure norms.