Promoter-to-promoter gift transfer of 34,89,760 shares (31.73%); promoter group holding unchanged

Prima Innovation's promoters have shifted shares within the family.

Wed 7 Oct 2026

Shares Transferred

34,89,760 equity shares (31.73% of the company)

Acquirer Holding Post Transfer

64,11,794 shares (58.29%), up from 29,22,034 shares (26.56%)

Promoter Group Holding

58.29% before and after — unchanged

Promoter-to-promoter gift transfer

Prima Innovation Ltd has informed the stock exchanges about an inter-se transfer of shares between two promoters. Mr. Dilip Manharlal Parekh transferred 34,89,760 equity shares of Rs. 5 each to Mr. Bhaskar Manharlal Parekh. That block is equal to 31.73% of the company's total share capital.

The transfer was by way of gift, so no price was paid — the update states there is no consideration for this transaction. The proposed acquisition window mentioned is 28th September, 2026 to 7th October, 2026.

How the holding moves

• The acquirer along with persons acting in concert (PACs) held 29,22,034 shares (26.56%) before the transfer.
• After the transfer, the same group holds 64,11,794 shares (58.29%).
• The gifting promoter's name moves out of the shareholding, as the whole block passed to the acquirer.

Promoter group total stays put

The company's letter notes that there is no change in the total shareholding of the promoter and promoter group pre and post transfer of shares. The combined figure is 64,11,794 shares, or 58.29%, both before and after — the same block of shares simply sits under a different promoter name.

Why no open offer is triggered

The acquisition is made in reliance on the exemption under Regulation 10(1)(a)(i) of the SEBI SAST Regulations, which covers inter-se transfers between qualifying persons. On that basis, the acquirer is not required to make an open offer to public shareholders. A disclosure under Regulation 10(5) was made and shared with the stock exchange on 25th September, 2026.

What this means for retail investors

• Control at the promoter group level stays the same; only the name holding the shares changes.
• No cash changes hands, so this is not a market purchase or a promoter exit.
• The update describes the acquirer's action as acquisition by way of gift and the block as an inter-se transfer.

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