IZMO532341Reclassification update

Promoter group inter-se gift transfer of 14,96,257 shares not completed in time; DP rejected instruction

Promoter group member Tej Soni informed the exchanges that the proposed gift transfer of 14,96,257 equity shares (9.9% of paid-up capital) of izmo could not be completed by the September 23, 2026 deadline.

By ScoutQuest · Fri 25 Sep 2026, 11:49 AM IST · 2 min read

14,96,257Total shares for inter-se gift transfer

Shares gifted by Mrs. Kiran Soni14,63,266

Shares gifted by Mrs. Shashi Soni32,991

Total shares for inter-se gift transfer 14,96,257: Shares gifted by Mrs. Kiran Soni 14,63,266, Shares gifted by Mrs. Shashi Soni 32,991.

Shares in Transfer: 14,96,257 equity shares
Percentage of Paid-up Capital: 9.9%
Original Deadline: September 23, 2026
Shares from Mother: 32,991 shares
Shares from Sister-in-law: 14,63,266 shares

What happened

Tej Soni, a person belonging to the promoter group of izmo Limited, had on September 11, 2026 given prior intimation under Regulation 10(5) of the SEBI SAST Regulations for an inter-se transfer of 14,96,257 equity shares, being 9.9% of the total paid-up equity share capital, to be received as a gift.

The gifts were to come from

Mrs. Shashi Soni (mother) — 32,991 fully paid up equity shares
Mrs. Kiran Soni (sister-in-law) — 14,63,266 fully paid up equity shares

The transfer was to be completed on or before September 23, 2026.

Why it did not go through

The depository participant of the donors, Anand Rathi Share and Stock Brokers Limited, rejected the transfer instruction, citing non-submission of documentary proof establishing the relationship between transferor and transferee for an off-market transfer between relatives.

The update records that the donors had submitted duly executed Delivery Instruction Slips with Reason Code "Gift", original gift deeds recording the relationship, PAN and Aadhaar of donors and donee, confirmation that no financial consideration was involved, and had paid the applicable transaction charges.

Next steps stated

The delay is described as procedural, not due to any lapse in the underlying transactions or intent.
Requisite documents are being collated and submitted to the DP to complete the transfer at the earliest.
Once effected, the transfers will be reported to the exchanges and SEBI under the SAST Regulations.
If the DP continues to hinder transferability, the transfer may be completed through another depository participant where the donors hold demat accounts.

Shareholding as intimated earlier

The earlier Regulation 10(5) disclosure showed the acquirer's holding going from nil to 14,96,257 shares or 9.99%, with Mrs. Kiran Soni moving from 24,08,862 shares (16.08%) to 9,45,596 shares (6.31%) and Mrs. Shashi Soni from 22,45,721 shares (14.99%) to 22,12,730 shares (14.77%). These changes have not taken effect as the transfer stands incomplete.

How to read this

This is a movement of shares within the promoter family by way of gift, with no money changing hands and no change in the total promoter group holding. The letter is an intimation of the factual position and the reason for delay, and does not constitute a fresh application under Regulation 10(5). It concerns the promoter family's personal shareholding rather than the company's business or finances.

9.9%Stake represented by transfer (as stated on page 1

Stake represented by transfer (as stated on page 1: 9.9%.

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