The promoter group of Fine Organic Industries Limited has disclosed an inter-se transfer of shares among existing promoter members. Three acquirers—Mukesh Maganlal Shah, Jayen Ramesh Shah, and Tushar Ramesh Shah—are acquiring shares from Anjali Kunal Patil. A total of 3,06,600 equity shares will be transferred off-market at a price of up to Rs. 4,300 per share, effective on or after March 30, 2026. The total promoter holding percentage remains unchanged.
Intimation of Inter-Se Promoter Transfer
This document serves as a formal intimation regarding a proposed inter-se transfer of shares within the Promoter Group of Fine Organic Industries Limited. The transaction falls under the exemption for off-market transfers among qualifying persons as per relevant regulations.
Details of the Proposed Acquisition
The acquisition involves three specified acquirers, who are existing promoters of the Target Company (TC):
- Mukesh Maganlal Shah
- Jayen Ramesh Shah
- Tushar Ramesh Shah
The seller in this proposed transaction is Anjali Kunal Patil. The total number of shares to be acquired across these three individuals is 3,06,600 equity shares, representing 1% of the total share capital of TC.
Transaction Mechanics
- Proposed Date: On or after March 30, 2026 (post 4 working days from disclosure).
- Acquisition Price: Up to Rs. 4,300/- per share.
- Rationale: The transfer is structured as an off-market transaction among Promoters.
Share Acquisition Breakdown
The 3,06,600 shares are slated to be distributed as follows, with each acquirer obtaining 0.33% of the total shares:
| Acquirer | No. of Shares Acquired | % Holding |
|---|---|---|
| Mukesh Maganlal Shah | 1,02,200 | 0.33% |
| Jayen Ramesh Shah | 1,02,200 | 0.33% |
| Tushar Ramesh Shah | 1,02,200 | 0.33% |
Compliance and Pricing Verification
The acquisition price of Up to Rs. 4,300/- per share is compliant as it does not exceed the 25% threshold above the Volume Weighted Average Market Price (VWAP) derived from the last 60 trading days. The relevant VWAP figures noted were NSE – Rs. 4,318.19 and BSE – Rs. 4,314.89.
Impact on Shareholding Structure
As detailed in the Annexure, this transaction is an internal reorganization among qualifying promoters. Consequently, the aggregate holding of the Promoter and Promoter Group before and after the transfer shall remain the same. The transfer shifts holdings primarily among the acquirers, increasing their individual stakes while decreasing the seller’s stake.
For instance, prior to the transaction, the three main acquirers held a combined 38.24% (6.26% + 15.70% + 16.26%) of the voting rights. After the transfer, their combined holding increases to 39.23% (6.59% + 16.04% + 16.60%), reflecting the transfer of 1% share capital (3,06,600 shares) from the seller (who moves from 7.49% to 6.49%).
Source: BSE
