Inter-se promoter group transfer of 52,25,161 shares (9.30%) completed at Rs 60 per share

Kamineni Hospitals Pvt Ltd has completed the acquisition of 52,25,161 equity shares, being 9.30% of paid-up capital, from United Steel Allied Industries Pvt Ltd (USAIPL) on 28.09.2026.

Wed 30 Sep 2026

Shares Acquired

52,25,161 equity shares (9.30% of paid-up capital)

Acquisition Price

Rs 60/- per share

Transfer Value

Rs 31.35 Cr

Seller's Stake Change

From 38.17% to 28.87%

Acquirer's Stake

From Nil to 9.30%

What happened

Kamineni Hospitals Private Limited (KHL) has shared the post-acquisition report under Regulation 10(6) of the SEBI SAST Regulations, confirming completion of the purchase of 52,25,161 equity shares, being 9.30% of the paid-up capital of Oil Country Tubular Limited, from United Steel Allied Industries Private Limited (USAIPL) on 28.09.2026.

Terms

• Price: Rs 60/- per share
• Transfer value: Rs 31.35 Cr
• Background: USAIPL owed Rs 36.30 Cr to KHL; the transfer takes place under a settlement agreement dated 22nd September, 2026

Shareholding change

• Acquirer KHL: from Nil to 52,25,161 shares, i.e. 9.30%
• Seller USAIPL: from 2,14,44,165 shares (38.17%) to 1,62,19,004 shares (28.87%)

Why no open offer

The acquisition relied on the exemption in Regulation 10(1)(a)(iii). KHL is not directly named as a promoter or promoter group entity of the company, but states it is intimately associated with the promoter through common family ownership. Five relatives of K. Suryanarayana, the Promoter, who are disclosed as promoter group shareholders, together hold 57.78% of USAIPL and 70.98% of KHL, giving them controlling majority in both entities. Disclosure of the proposed acquisition under Regulation 10(5) was shared on 21-09-2026.

How to read this

This is a transfer of shares between entities under common family control, settling a debt between them. The total promoter group ownership is being rearranged among group entities rather than shares being sold to an outside buyer, and the company's own business, capital or operations are not altered by this update.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.