Sanghvi Movers: Promoter inter-se transfer of 1.05 crore shares via gift
Sanghvi Movers Limited announces promoter inter-se transfer of 1,05,53,614 equity shares by gift from Mr. Rishi C Sanghvi to his spouse, Mrs. Maithili Rishi Sanghvi. The transfer is scheduled for on or before September 08, 2026, with no consideration involved.
The share transfer is an inter-se transfer within the promoter group by way of gift and does not involve any change in the overall promoter holding or control of the company. It is a private arrangement and does not have a significant immediate impact on the company's business or market perception.
The announcement pertains to a promoter group internal share transfer via gift, which is a routine corporate action and does not inherently impact the company's financial performance or operations positively or negatively.
Sanghvi Movers Limited has disclosed a proposed acquisition of 1,05,53,614 equity shares (approximately 12.19% of the promoter group's holding) through an inter-se transfer amongst promoter group members by way of gift. The transfer will be from Mr. Rishi C Sanghvi to his spouse, Mrs. Maithili Rishi Sanghvi.
The proposed date for this transfer is on or before September 08, 2026. This transaction is structured as a gift, meaning no monetary consideration is involved. The company has provided the necessary prior information under Regulation 10(5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This exemption from making an open offer is under Regulation 10(1)(a)(i) and 10(1)(a)(ii) of the SEBI (SAST) Regulations, 2011.
Mrs. Maithili Rishi Sanghvi, a promoter group member, has confirmed that the transferor and transferee will comply with all applicable disclosure requirements. The acquisition is described as a private family arrangement.
A plain-language summary of a public exchange filing by Sanghvi Movers Limited. Read the original for the full detail.