Inter-se transfer of 52,25,161 shares (9.30%) under Reg 10(1)(a)(iii)

Kamineni Hospitals Private Limited has acquired 52,25,161 equity shares, or 9.30%, of Oil Country Tubular Ltd from United Steel Allied Industries Private Limited.

Wed 7 Oct 2026

Shares Acquired

52,25,161 equity shares, or 9.30%

Acquisition Price

Rs. 60/- per share

Seller Holding Change

from 38.17% to 28.87%

An inter-se transfer, explained simply

An inter-se transfer means shares move between entities that are connected to each other, rather than being sold to unrelated buyers in the open market. Here, the buyer and the seller are linked through the same family members.

What changed hands

• Acquirer: Kamineni Hospitals Private Limited
• Seller: United Steel Allied Industries Private Limited
• Shares: 52,25,161 equity shares of Oil Country Tubular Ltd, equal to 9.30% of the company
• Price: Rs. 60/- per share
• Date of acquisition: 28th September, 2026

How the holdings move

• The acquirer held Nil shares before the acquisition and holds 9.30% after it.
• The seller's holding falls from 38.17% to 28.87%.

Why an open offer is not triggered

A buyer crossing the prescribed holding limits under the takeover regulations would normally have to make an open offer to the other shareholders. This acquisition was reported under the exemption in Regulation 10(1)(a)(iii), with the detailed report shared under Regulation 10(7). The update states that the acquirer and the seller satisfy the relationship required for that exemption.

Who is behind the two entities

The update says Kamineni Hospitals Private Limited is not directly named as a promoter or promoter group entity of Oil Country Tubular Ltd in the shareholding pattern shared with the stock exchanges. It adds that the acquirer is intimately associated with the promoter of the target through ownership among the same family members, who together hold 57.78% of USAIPL (the seller) and 70.98% of KHL (the acquirer). These persons are disclosed as promoter group shareholders of Oil Country Tubular Ltd in the shareholding pattern shared under Regulation 31 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Price reference in the update

The update records the volume-weighted average market price (VWAP) of the target company's shares as Rs 59.269, and confirms that the acquisition price per share is not higher than that by more than the permitted level.

What a retail investor can take away

• This is a shift of an existing family-linked holding from one entity to another, not a fresh purchase of a large stake from the open market.
• The seller's stake comes down and the acquirer's goes up, while the same family members stand behind both entities.
• The shares continue to be listed on BSE Limited and the National Stock Exchange of India Limited.

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