Fine Organic Industries Limited has announced an inter-se transfer of shares amongst its existing promoter and promoter group members. This transaction, involving 3,06,978 equity shares representing 1.00% of the company’s share capital, is part of a partition of the Jayen R Shah HUF. The transfer is proposed to occur on or after September 3, 2026, and is being conducted off-market. The disclosure confirms that the aggregate holding of the Promoter and Promoter Group will remain unchanged following this transaction.
Promoter Group Share Transfer
Fine Organic Industries Limited has formally notified stock exchanges regarding an inter-se transfer of shares. This transaction involves a portion of the promoter group and is being executed under Regulation 10(1)(a) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, allowing for an exemption from open offer requirements.
Transaction Details
The specific transaction involves the transfer of 3,06,978 equity shares, which constitute 1.00% of the total share capital of Fine Organic Industries Limited. The transfer is from Jayen R Shah HUF (Karta – Jayen Ramesh Shah) to Jayen Ramesh Shah. The proposed date for this off-market transaction is on or after September 3, 2026.
Rationale and Compliance
The rationale behind this transfer is the partition of the Jayen R Shah HUF. The disclosure highlights that this transaction qualifies for exemption under Regulation 10(1)(a)(ii) as it is an inter-se transfer among qualifying persons who have been members of the promoter and promoter group for at least three years prior to the proposed acquisition. The document also specifies that the aggregate holding of the Promoter and Promoter Group will remain the same before and after this ‘inter se’ transfer.
Market Price Information
For the purpose of disclosure, the volume-weighted average market prices for 60 trading days preceding the notice were provided. The price on the NSE was Rs. 5018.31/-, and on the BSE, it was Rs. 5014.94/-. The acquisition price is stated as Nil, given it is an inter-se transfer within the promoter group due to HUF partition.
Source: BSE
