Jamshri Realty Limited announced a significant off-market transfer of equity shares from promoters, Premratan Damani and Bimladevi Damani, to Rajesh Damani, an immediate relative. This transaction, structured as a gift without consideration, involves a total of 43,93,960 shares, representing 62.89% of the company’s total share capital. The transfer falls under an exemption from open offer requirements, as per SEBI SAST Regulations, due to its nature as a family arrangement.
Jamshri Realty Limited: Share Transfer Announcement
Jamshri Realty Limited has formally notified the stock exchanges regarding a substantial off-market share transfer. The transaction involves promoters, Mr. Premratan Damani and Mrs. Bimladevi Damani, gifting a significant portion of their shareholding to Mr. Rajesh Damani, who is identified as an immediate relative. This event is poised to reshape the shareholding structure of the company.
Transaction Details
The disclosed transfer comprises a total of 43,93,960 equity shares. Specifically, Mr. Premratan Damani is transferring 12,94,600 shares, which constitute 18.53% of the total share capital. Concurrently, Mrs. Bimladevi Damani is transferring 30,99,360 shares, representing 44.36% of the total share capital. The aggregate of these shares accounts for 62.89% of Jamshri Realty Limited’s total paid-up share capital. Notably, this transfer is executed as a gift, meaning no consideration is involved.
Regulatory Exemption
In connection with this proposed transaction, Jamshri Realty Limited has also provided disclosures pertaining to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company has confirmed that this transfer of shares from promoters to an immediate relative, by way of gift without consideration, is exempted from the mandatory open offer requirements under Regulation 10(1)(a)(i) of the SEBI SAST Regulations. The disclosures further confirm compliance with relevant conditions for this exemption.
Declarations on Encumbrances
In separate declarations dated April 3 and April 4, 2024, and reiterated on April 3 and April 4, 2025 and 2026, promoters Mrs. Bimladevi P Damani and Mr. Premratan B Damani have affirmed that neither they nor any persons acting in concert with them have made any encumbrances on the shares of Jamshri Realty Limited during the financial years 2023-2024, 2024-2025, and 2025-2026.
Source: BSE
