Clean Science and Technology Limited announced an inter-se transfer of equity shares among its promoter and promoter group members. This transaction, conducted via gift deeds, involves a total of 2,00,38,000 shares, representing 18.86% of the total share capital. The transfers are effective from June 6, 2026, and are intended to streamline family assets and businesses. No consideration is involved in these transfers, which are exempt from open offer requirements.
Inter-Se Promoter Share Transfer Announced
Clean Science and Technology Limited has disclosed a significant inter-se transfer of equity shares within its promoter and promoter group. This strategic movement involves the gifting of shares, aiming to streamline family assets and business operations. The announcement, dated June 1, 2026, details transactions scheduled to commence on or after June 6, 2026.
Transaction Details and Share Allocation
The aggregate of these proposed gift transactions amounts to 2,00,38,000 equity shares, which represents 18.86% of the company’s total share capital. These transfers are conducted via gift deeds and are considered off-market transactions.
The distribution of shares among the promoter group acquirers is as follows:
- ARB Business Trust will acquire 33,00,000 shares, representing 3.11%.
- AAB Business Trust will acquire 1,01,00,000 shares, representing 9.50%.
- Smt. Alaknanda Boob Business Trust will acquire 58,00,000 shares, representing 5.46%.
- Mrs. Asha Ashok Boob will acquire 8,38,000 shares, representing 0.79%.
Regulatory Exemption and Rationale
These transactions fall under the exemption provided by Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Crucially, as these are gift transfers, no monetary consideration is involved, and thus, no open offer is required.
The stated rationale behind this consolidated share transfer is to streamline the family’s assets and businesses. The aggregate holding of the Promoter and Promoter Group remains unchanged before and after these inter-se transfers.
Shareholding Impact
Following these transactions, the shareholding details for the entities involved are outlined. For instance, the shareholding of Ashok Ramnarayan Boob (Seller) is noted to decrease significantly, while the acquirers’ holdings increase substantially, reflecting the redistribution within the promoter group. Specifically, after the transfers, the total percentage of shares held by the acquirers and the promoter group will reflect the sum of these individual allocations.
The disclosure emphasizes that all applicable disclosure requirements under the Takeover Regulations have been complied with or will be complied with for these proposed transfers.
Source: BSE
