Prior intimation: proposed gift of 1,53,375 shares (3.82%) within promoter family

Inducto Steel received prior intimation from promoter Mrs. Lalitadevi Reniwal of a proposed gift of 1,53,375 shares (3.82% of share capital) from her son and promoter Mr. Rajeev Reniwal.

Sat 10 Oct 2026

Shares proposed to be gifted

1,53,375 shares (3.82% of share capital)

Consideration

Nil - gift between immediate relatives, exempt from open offer under Regulation 10(1)(a)

Proposed date of acquisition or transfer

16 October, 2026

What the exchange was told

Inducto Steel Limited has received a prior intimation from Mrs. Lalitadevi Shantisarup Reniwal, a promoter of the company, regarding a proposed acquisition of 1,53,375 (One Lakh Fifty-Three Thousand Three Hundred Seventy-Five) equity shares, representing 3.82% of the total share capital. The shares are to come from her son, Mr. Rajeev Shantisarup Reniwal, also a promoter, by way of gift without consideration.

The proposed date of acquisition or transfer is 16 October, 2026. The company states the proposed acquisition is exempt from the obligation to make an open offer in terms of Regulation 10(1)(a) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, subject to fulfilment of the applicable conditions.

A gift, not a sale

• The price at which the shares are proposed to be acquired is stated as Nil. The update says the shares are transferred by way of gift between immediate relatives, so no consideration is involved.
• Because the transfer is an inter-se gift, the update marks the market-price points (frequently traded price, infrequently traded price, and the 25% price declaration) as not applicable.
• The acquirer has declared that all conditions specified under Regulation 10(1)(a) with respect to exemptions have been complied with, and that the transferor and transferee will comply with the applicable disclosure requirements under Chapter V.

What changes in the shareholding

• Acquirer (Mrs. Lalitadevi Shantisarup Reniwal) and persons acting in concert, other than the seller: 22,93,873 shares, or 57.10%, before the proposed transaction; 24,47,248 shares, or 60.92%, after.
• Seller (Mr. Rajeev Shantisarup Reniwal): 12.22% before the proposed transaction; 8.40% after.
• The increase in the acquirer's holding matches the decrease in the seller's holding, so the shares are moving within the same promoter family rather than to an outside buyer.

How to read this

The update is a prior intimation of a proposed transfer, not a completed one; the proposed date given is 16 October, 2026. Shares changing hands inside a promoter family by way of gift without payment do not bring in a new investor or fresh money into the company. The disclosure states that the proposed acquisition is exempt from an open offer, subject to the applicable conditions, and that the acquirer has declared compliance with the exemption conditions.

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