Banco Aluminium Private Limited executed an inter-se transfer of shares in Banco Products (India) Limited to Mr. Mehul Kanubhai Patel on March 23, 2026. The transfer involved 29,000 equity shares, representing 0.02% of the paid-up capital. This transaction was reported under SEBI regulations concerning Substantial Acquisition of Shares and Takeovers. The disclosure confirms that both the seller (Banco Aluminium) and the acquirer (Mehul Patel) belong to the Promoter Group.
Mandatory Disclosure Filed for Share Transfer
Banco Aluminium Private Limited, acting as the Donor (Seller), formally disclosed the disposal of equity shares in Banco Products (India) Limited (the Target Company) to Mr. Mehul Kanubhai Patel, the Donee (Acquirer). The transaction, which took place on March 23, 2026, was executed via an Off-market Inter Se transfer.
Transaction Details
The quantum of shares transferred was 29,000 equity shares, each having a face value of Rs. 2/-. This disposal constitutes a change of -0.02% in the total share/voting capital for the Seller and an acquisition of +0.02% for the Acquirer. The transfer mechanism confirmed that this was not an open market transaction but an internal movement within the promoter structure.
Holding Positions Pre and Post-Transaction
Prior to this disposal, the Donor entity, Banco Aluminium Private Limited, held 11,92,660 shares, equating to 0.83% of the total capital. Following the transfer, the holding reduced to 11,63,660 shares (0.81%). Conversely, Mr. Mehul Kanubhai Patel’s holding increased slightly from 7,94,91,396 shares (55.57%) to 7,95,20,396 shares (55.59%).
It is noted that both the Donor and the Donee are confirmed to be part of the Promoter Group of the Target Company. The total holding of the Acquirer and their Persons Acting in Concert (PACs) remains substantial at 67.88% both before and after this specific inter-se transfer, underscoring continued consolidated control.
Capital Structure Confirmation
The total equity share capital of Banco Products (India) Limited remained constant throughout the reporting period. Before and after the acquisition, the capital stood at 14,30,37,300 equity shares, resulting in an equity share capital value of Rs. 28,60,74,600.
Source: BSE
