Promoter pre-intimation for proposed inter-se acquisition of up to 24,00,000 shares, or 3.44%

Nowrosjee Wadia and Sons Ltd has shared a pre-intimation for a proposed inter-se transfer of shares within the promoter group.

Sat 10 Oct 2026

Shares proposed to be acquired

Up to 24,00,000 shares (3.44% of paid-up capital)

Proposed acquisition date

16th October, 2026 or thereafter

Acquirer holding after transfer

3,51,09,826 shares (50.32%)

What has been shared

• Nowrosjee Wadia and Sons Limited has given a pre-intimation under Regulation 10(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
• It proposes to acquire up to 24,00,000 shares, equal to 3.44% of the total paid-up share capital of The Bombay Burmah Trading Corporation Limited, from Mr. Nusli Neville Wadia.
• The route is an inter-se transfer between promoters under Regulation 10(1)(a)(ii), under which the acquirer is exempt from making an open offer.
• The rationale stated for the proposed transfer is "internal restructuring of Promoters' Holding".
• The acquirer is a promoter of the target company before this transaction.
• The proposed date of acquisition is any time after 4 working days from the date of the intimation, that is, on 16th October, 2026 or thereafter.

Price

• The acquisition price shall be within the permissible price band applicable for block deals on the relevant date.
• The volume weighted average market price of the shares for the 60 trading days preceding the notice, on NSE where the maximum volume of trading in the shares was recorded, is Rs.1570.99 per Share.
• The acquirer has declared that the acquisition price would not be higher by more than 25% of the price computed on that basis.

Shareholding before and after the proposed transaction

• Acquirer, Nowrosjee Wadia and Sons Limited: 3,27,09,826 shares (46.88%) before, 3,51,09,826 shares (50.32%) after.
• Seller, Mr. Nusli Neville Wadia: 35,31,356 shares (5.06%) before, 11,31,356 shares (1.62%) after.
• Persons acting in concert (other than sellers): 1,54,21,863 shares (22.10%), the same before and after.
• The acquirer confirms that the conditions specified under Regulation 10(1)(a) with respect to the exemption have been duly complied with, and that the transferor and transferee have complied or will comply with the applicable disclosure requirements.

How a retail investor may read it

• This is a pre-intimation of a proposed transfer of shares from one promoter to another within the same promoter group; the buyer is already a promoter rather than an outside investor.
• Because the set of holders does not change, the combined promoter-group position is not proposed to change; what changes is how the holding is split among promoter entities and individuals, with the acquirer's stake proposed to cross 50%.
• The update notes that the number of shares proposed to be acquired will be subject to the prevailing market price and availability of fund.
• Percentages have been rounded to two decimal places, so the sum of percentages may differ marginally due to rounding-off.

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