Shri Dinesh Mills: Promoter group to gift 24.22% shares

Shri Dinesh Mills Limited has received a disclosure regarding the proposed inter-se transfer of shares among its promoter and promoter group. Nimish Upendrabhai Patel, jointly with Arushaben Nimishbhai Patel, will acquire 7,68,852 shares (13.73%). Nishank Nimishbhai Patel, jointly with Arushaben Nimishbhai Patel, will acquire 5,04,490 shares (9.01%). Arushaben Nimishbhai Patel, jointly with Nimish Upendrabhai Patel, will acquire 83,085 shares (1.48%). The total acquisition amounts to 13,56,427 shares, representing 24.22% of the total share capital. This transfer is proposed to be executed by way of gift, falling under the exemption provided in Regulation 10(1)(a)(i) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Consequently, there will be no change in the overall shareholding of the Promoter and Promoter Group. The rationale behind this transaction is a private family arrangement to streamline the family's assets and businesses.