Chiraharit544561Promoter stake buy

Promoter group entity acquires 2,87,99,990 shares (52.56%) in exempt off-market transfer

A promoter-group company reported to SEBI the acquisition of 2,87,99,990 shares, or 52.56%, of the target company.

By ScoutQuest · Tue 13 Oct 2026, 6:06 PM IST · 3 min read

52.56%Acquirer's stake the acquisition

Acquirer's stake the acquisition: 52.56%.

Shares acquired: 2,87,99,990 shares, or 52.56% of the target company
Transfer price: Rs. 8/- per share; 60-day VWAP: Rs. 8.65/- per share
SEBI report date and fee: Report dated 13th October, 2026; fee Rs. 1,50,000/- plus 18% GST

Promoter stake moves from an individual to a promoter-group company

Malaxmi Climate Resilience Platform Private Limited has reported to SEBI its acquisition of 2,87,99,990 equity shares of the target company, representing 52.56% of its total share capital or voting rights. This report is shared under Regulation 10(7) of the SEBI SAST Regulations, covering an acquisition made in reliance on the exemption in Regulation 10(1)(a)(iii).

What changed hands

Seller: Dr. Tejaswini Yarlagadda, a promoter of the target company. Her holding goes from 2,87,99,990 shares (52.56%) before the acquisition to NIL after it.
Buyer: Malaxmi Climate Resilience Platform Private Limited, which held NIL before and holds 2,87,99,990 shares (52.56%) after.
The shares were transferred off-market at Rs. 8/- per equity share, and the date of acquisition was 10th September, 2026.

Why no open offer is involved

The update states that the seller holds 80% of the paid-up equity share capital of the acquirer and exclusively controls it. Because the seller holds not less than fifty per cent of the equity shares of the buyer, both are described as qualifying persons under Regulation 10(1)(a)(iii), and the acquisition is covered by that exemption. The report notes that Regulation 3(1) and Regulation 4 would have triggered an open offer had the report not been shared under Regulation 10(7).

The price in context

Acquisition price: Rs. 8/- per equity share.
The volume-weighted average market price (VWAP) for the 60 trading days preceding the notice, as traded on BSE, was Rs. 8.65/- per equity share. The shares are stated to be frequently traded.
The update confirms the acquisition price is not higher by more than 25% of that VWAP.

Stated rationale

The transfer is described as being undertaken to consolidate the promoter's shareholding in the target company under a corporate entity, in which the seller holds the majority of the equity share capital, for ease of corporate structuring and long-term holding.

The acquirer's declaration

The report states that all the conditions specified under Regulation 10(1)(a)(iii) with respect to the exemption have been duly complied with.

How a retail investor can read this

The shares move from an individual promoter to a company she controls, so the shares stay within the promoter group rather than going to an outside buyer.
Because the transaction is exempt, public shareholders were not offered an exit through an open offer at this price.
This is a disclosure of a completed, exempt inter-se transfer at Rs. 8/- per share, against a 60-day VWAP of Rs. 8.65/-.

Fees and related updates in the report

The report under Regulation 10(7) is dated 13th October, 2026.
Applicable fee of Rs. 1,50,000/- (Rupees One Lakh Fifty Thousand Only) plus applicable taxes; the amount paid is Rs.1,77,000/- (Rs. 1,50,000 + 18% GST), paid on 12th October, 2026.
The prior intimation to the stock exchange under Regulation 10(5) is dated 31st August, 2026, and the report under Regulation 10(6) is dated 11th September, 2026.
The shares carry a face value of Re. 1/- each, and the target company's scrip is listed on BSE Limited.