SDShri Dinesh Mills503804Promoter stake buy

Promoter gives prior intimation to acquire 24.34% via inter-se gift transfer among immediate relatives

Promoter Bharatbhai Upendrabhai Patel has given prior intimation of a proposed acquisition of ~13.63 lakh shares (24.34%) of the company.

By ScoutQuest · Fri 23 Oct 2026, 9:55 AM IST · 2 min read

Proposed acquisition size

~13.63 lakh shares (24.34%)

Consideration price

NIL

Proposed transfer date

on or after 29 October 2026

What is being proposed

• Bharatbhai Upendrabhai Patel, a promoter of the company, has given prior intimation under Regulation 10(5) of the SEBI (SAST) Regulations, 2011 of a proposed acquisition of ~13.63 lakh shares (24.34%) of the company.
• The shares are to come from four promoter group holders, each holding jointly with another family member, by way of a gift.
• The proposed date of transfer is on or after 29 October 2026.
• The price at which the shares are proposed to be acquired is NIL, as the update states no consideration is involved in a gift.
• The acquirer cites the exemption under Regulation 10(1)(a)(i) for inter-se transfer of shares amongst immediate relatives.

Who is transferring how much

• Bharatbhai Upendrabhai Patel jointly with Roopaben Bharatbhai Patel: ~7.95 lakh shares (14.20%)
• Roopaben Bharatbhai Patel jointly with Bharatbhai Upendrabhai Patel: 54,554 shares (0.97%)
• Aditya Bharatbhai Patel jointly with Roopaben Bharatbhai Patel: ~4.92 lakh shares (8.79%)
• Jemika Karna Parikh jointly with Bharatbhai Upendrabhai Patel: 21,160 shares (0.38%)
• All four are shown as immediate relatives of the acquirer under Regulation 10(1)(a)(i).

Shareholding table

• The shareholding details show the acquirer with no shares before the proposed transaction and ~13.63 lakh shares (24.34%) after it.
• Each of the four transferring holders is shown with its existing holding before the transaction and nil after it.
• The update states there will be no change in the total shareholding of the Promoter and Promoter Group after the inter-se transfer.

What this means for a retail investor

• The shares are proposed to move between members of the same promoter family, not to an outside buyer, so ownership remains within the promoter group.
• Because the transfer is by way of gift amongst immediate relatives, the acquirer is exempted from making an open offer under Regulation 10(1)(a)(i).
• No money changes hands: the stated price is NIL and the update says no consideration is involved.
• The stated rationale is a private family arrangement amongst immediate relatives to streamline the family's assets and businesses.
• The acquirer has declared that the conditions for the exemption under Regulation 10(1)(a) are complied with, and that the transferor and transferee have complied or will comply with the applicable disclosure requirements under Chapter V of the Takeover Regulations, 2011.

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