SDShri Dinesh Mills503804Promoter stake buy

Prior intimation: proposed gift-based inter-se transfer of ~13.56 lakh shares (24.22%)

Prior intimation under Reg 10(5) of SEBI (SAST) Regulations, 2011 for a proposed inter-se transfer of ~13.56 lakh shares (24.22%) among promoter family members.

By ScoutQuest · Fri 23 Oct 2026, 10:01 AM IST · 2 min read

Shares proposed to be transferred

~13.56 lakh shares (24.22%)

Mode and price

Gift, price stated as NIL — no consideration is involved

Promoter shareholding impact

Total promoter and promoter group shareholding stays unchanged

What is being proposed

• Promoter Nimish Upendrabhai Patel has given prior intimation of a proposed acquisition of ~13.56 lakh shares, or 24.22% of the share capital, of the company.
• The shares are to come from three joint holdings of promoter group immediate relatives, and the mode stated is a gift, with price shown as NIL and no consideration involved.
• The proposed date of transfer is on or after 29 October 2026.
• The update cites Regulation 10(1)(a)(i) of the SEBI (SAST) Regulations, 2011, the exemption for inter-se transfer of shares amongst immediate relatives.

Who transfers and who receives

• Nimish Upendrabhai Patel jointly with Arushaben Nimishbhai Patel: ~7.69 lakh shares (13.73%)
• Nishank Nimishbhai Patel jointly with Arushaben Nimishbhai Patel: ~5.04 lakh shares (9.01%)
• Arushaben Nimishbhai Patel jointly with Nimish Upendrabhai Patel: 83,085 shares (1.48%)
• All three are described as immediate relatives of the acquirer under Regulation 10(1)(a)(i), and the total of the three tranches is ~13.56 lakh shares (24.22%).

Shareholding before and after

• In the shareholding table, ~13.56 lakh shares (24.22%) appear against Nimish Upendrabhai Patel after the proposed transaction; before it, the same shares appear under the three joint holdings.
• The three transferor joint holdings are shown as nil after the transaction.
• The update states that there will be no change in the total shareholding of the promoter and promoter group after the transfer.

Why it is being done

• The stated rationale is a private transfer family arrangement amongst immediate relatives to streamline the family's assets and businesses.

What it means for retail investors

• Because the shares move within the promoter family by way of gift, no money changes hands and the update states NIL as the price, so there is no transaction price being communicated.
• The total promoter and promoter group stake does not change; what changes is the name and manner in which a 24.22% block is held.
• The word used is proposed — the transfer is set for on or after 29 October 2026 and is not described as completed.
• The update also carries the acquirer's declaration that the transferor and transferee have complied or will comply with the applicable disclosure requirements under Chapter V of the Takeover Regulations, and that the conditions of the Regulation 10(1)(a) exemption have been complied with.

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.

About ScoutQuest · Logos provided by Logo.dev