IZIZMO532341Reclassification update

Promoter group gift of 7,48,128 shares (4.99%) not completed in time; DP rejected transfer instruction

A promoter group member, Dinanath Soni, told the exchanges that the proposed gift of 7,48,128 equity shares (4.99% of paid-up capital) from his mother Mrs. Shashi Soni could not be completed by the 23.09.2026 deadline.

By ScoutQuest · Fri 25 Sep 2026, 12:01 PM IST · 2 min read

Shares to be transferred

7,48,128 equity shares (4.99% of paid-up capital)

Donor shareholding before transfer

Mrs. Shashi Soni: 22,12,730 shares (14.77%)

Donor shareholding after transfer

Mrs. Shashi Soni: 14,64,602 shares (9.77%)

Recipient shareholding after transfer

Mr. Dinanath Soni: 7,48,128 shares (4.99%)

Deadline missed

23.09.2026

What was proposed

On September 11, 2026, Dinanath Soni, a person belonging to the promoter group, shared a prior intimation under Regulation 10(5) of the SEBI SAST Regulations for an inter-se transfer of 7,48,128 equity shares, being 4.99% of izmo Limited's total paid-up equity capital, from his mother Mrs. Shashi Soni as a gift. The exemption claimed is for transfers between immediate relatives, so no open offer is triggered and no consideration is involved.

What has now happened

The transfer had to be completed on or before 23.09.2026. It was not. The Depository Participant of the donor, Anand Rathi Share and Stock Brokers Limited, rejected the delivery instruction slip citing non-submission of documentary proof establishing the relationship between transferor and transferee for an off-market transfer.

The filer's account

• The DIS was submitted with the original Gift Deed, with Reason Code marked as Gift.
• PAN, Aadhaar and Passport of donor and donee were provided.
• Transaction charges were paid and formalities completed.
• He states the rejection was unreasonable and the delay is procedural, not a lapse in the underlying transaction or intent.
• Documents are being collated for resubmission to the DP; if the DP continues to hinder transferability under section 58(2) of the Companies Act, 2013, another Depository Participant where the donor has a demat account may be used.

Shareholding effect if completed

• Mrs. Shashi Soni: 22,12,730 shares (14.77%) before, 14,64,602 shares (9.77%) after.
• Mr. Dinanath Soni: Nil before, 7,48,128 shares (4.99%) after.

How to read it

This is a movement of shares within the same promoter family, so total promoter group holding is unchanged; there is no sale to outsiders and no money changes hands. The letter is an intimation of the factual position on the delay and does not constitute a fresh application under Regulation 10(5). Investors may watch for a subsequent intimation confirming whether the transfer is eventually effected.

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