INOX India Limited confirmed a significant internal restructuring of promoter shareholding following the demise of the late Mr. Devendra Kumar Jain. The deceased’s 53,91,300 equity shares (representing 5.94% of the share capital) were transmitted to the surviving joint holders, Mr. Siddharth Jain and Mrs. Ishita Jain. This transmission, occurring on February 16, 2026, is exempted from takeover regulations as it is inter-se within the promoter group. The total promoter holding remains unchanged at 75%.
Confirmation of Promoter Share Transmission
INOX India Limited has officially disclosed details regarding the restructuring of shareholding within the Promoter and Promoter Group following the unfortunate demise of the late Mr. Devendra Kumar Jain. This filing is in compliance with required disclosure norms concerning substantial acquisitions.
Details of Transmitted Shares
The key event involves the transfer of 53,91,300 equity shares, which carried a face value of Rs. 2/- per share, without any consideration. These shares were transferred pursuant to the transmission process to the surviving joint holders, specifically Mr. Siddharth Jain and Mrs. Ishita Jain.
Prior to this transmission, the total aggregate shareholding of the Promoter and Promoter Group stood at 6,14,20,645 equity shares, accounting for 67.67% of the total share capital.
Shareholding Break-up Changes (Annexure 1 Summary)
The transmission resulted in an increase in the individual holdings of the acquirers, while the total promoter holding percentage remained static. The transfer of 53,91,300 shares (5.94% of total capital) was distributed as follows:
- Mr. Siddharth Jain (Acquirer): Received 28,53,550 shares (3.14% of total capital). His holding increased from 34.13% to 37.27%.
- Mrs. Ishita Jain (Acquirer): Received 25,37,750 shares (2.80% of total capital). Her holding increased from 1.40% to 4.20%.
The acquirers, Mr. Siddharth Jain and Mrs. Ishita Jain, confirmed the acquisition date via transmission as February 16, 2026.
Final Aggregate Holding
Post-transmission, the total shareholding of the Acquirer and Persons Acting in Concert (PAC) now stands at 6,68,11,945 equity shares. This represents 73.61% of the total voting rights and 73.32% of the total diluted capital of INOX India Limited. The disclosure confirms that since the transaction is inter-se amongst existing promoters, the aggregate shareholding of the entire promoter group remains unchanged at 75% of the paid-up equity share capital.
Source: BSE
