Joindre Capital Services Limited has filed a prior intimation regarding an inter-se transfer of equity shares within its promoter group. This transaction involves approximately 4.70% of the company’s total paid-up equity share capital. Mrs. Sandhya Agarwal will acquire shares from Mr. Subhash Agarwal and Subhash Agarwal HUF. The transfers are being made without consideration, by way of gift and HUF partition, and are exempt from open offer obligations under SEBI regulations.
Promoter Group Share Transfer
Joindre Capital Services Limited has officially informed the stock exchanges about a significant inter-se transfer of equity shares within its promoter group. The transaction involves approximately 4.70% of the company’s total paid-up equity share capital, amounting to 6,50,000 equity shares. This move is part of a strategic realignment within the promoter family, aimed at consolidating shareholding.
Transaction Details
The proposed transfer will see Mrs. Sandhya Agarwal acquire shares through two primary mechanisms. Firstly, 5,50,000 equity shares will be transferred by way of gift from Mr. Subhash Agarwal, who is Mrs. Agarwal’s husband. Secondly, an additional 1,00,000 equity shares will be transferred from Subhash Agarwal HUF following a partition of the Hindu Undivided Family. These transactions are scheduled to occur on or after November 9, 2026.
Regulatory Exemption
Crucially, these proposed acquisitions are classified as inter-se transfers among persons who are already part of the Promoter/Promoter Group. As such, they are exempt from the obligation to make an open offer under Regulations 3 and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The exemption is specifically cited under Regulation 10(1)(a)(i) for transfers among immediate relatives and Regulation 10(1)(a)(ii) for transfers pursuant to HUF partition. Both the transferors and the transferee have been identified as promoters for over three years prior to these proposed transactions.
Shareholding Impact
Following the proposed transfers, the aggregate shareholding of the Promoter and Promoter Group in Joindre Capital Services Limited will remain unchanged. However, the individual holdings within the group will shift. Mrs. Sandhya Agarwal’s stake will increase from 0.91% (1,25,300 shares) to 5.60% (7,75,300 shares). Concurrently, Mr. Subhash Agarwal’s direct shareholding will decrease significantly from 4.09% (5,65,450 shares) to 0.11% (15,450 shares), and Subhash Agarwal HUF will hold 0.00% of the equity capital.
Source: BSE
