Promoter group proposes inter-se transfer of 4,14,800 shares by way of gift

Prior intimation: Lalitedevi Shantisarup Reniwal, promoter group, proposes to acquire 4,14,800 equity shares (6.73% of share capital) from Mr. Rajeev Shantisarup Reniwal, an existing promoter-group member and immediate relative.

Fri 9 Oct 2026

Shares proposed to be acquired by gift

4,14,800 equity shares (6.73% of share capital)

Proposed date of transfer

16th October, 2026

Acquirer(s) and PACs shareholding

26,68,005 shares (43.26%) -> 30,82,805 shares (49.99%)

What has been intimated

Hariyana Ship Breakers Ltd has shared a prior intimation under Regulation 10(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Lalitedevi Shantisarup Reniwal, a member of the promoter group, proposes to acquire 4,14,800 equity shares from Mr. Rajeev Shantisarup Reniwal, an existing member of the promoter group and an immediate relative, by way of gift without consideration.

Key terms of the proposed transfer

• Shares proposed to be acquired: 4,14,800 equity shares
• Share of the total share capital of the company: 6.73%
• Price: Nil — no consideration is involved, as the shares are transferred by way of gift between immediate relatives
• Proposed date of acquisition/transfer: 16th October, 2026

How the holdings move

• Acquirer(s) with persons acting in concert: from 26,68,005 shares (43.26%) before the transaction, to 30,82,805 shares (49.99%) after
• Seller: from 19,53,809 shares (31.69%) before the transaction, to 15,39,009 shares (24.96%) after

What the acquirer has declared

The acquisition is intended to be undertaken under the exemption available under Regulation 10(1)(a)(i) and/or Regulation 10(1)(a)(ii) of the SEBI SAST Regulations, subject to fulfilment of the applicable conditions. The acquirer has declared that the transferor and transferee will comply with the applicable disclosure requirements and that the conditions specified under Regulation 10(1)(a) with respect to the exemption have been complied with.

How a retail investor might read it

This is a movement of shares between two members of the same promoter group, one of them an immediate relative, and no cash changes hands because the transfer is by way of gift. The number of shares of the company in issue does not change; what changes is who within the promoter group holds them. The acquiring side ends up with a larger share of the company and the transferring side with a smaller one. A gift transfer of this kind is generally read as an internal reorganisation of promoter-family holdings rather than an event that changes the company's business.

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