Jayen Ramesh Shah, promoter of Fine Organic Industries Limited, has acquired 3,06,978 equity shares from Jayen R Shah HUF. This off-market transaction, completed on September 7, 2026, was executed as an inter-se transfer pursuant to the partition of the HUF. The acquisition does not involve any open offer as it falls under an exemption for promoter group transfers. This event aims to restructure the shareholding within the promoter family.
Promoter Share Transaction Details
Fine Organic Industries Limited has reported a significant share transfer within its promoter group. Jayen Ramesh Shah, identified as the acquirer, has taken possession of 3,06,978 equity shares in the company. This acquisition was executed on September 7, 2026, through an off-market transaction.
Transaction Rationale and Exemption
The shares were transferred from Jayen R Shah HUF, with Jayen Ramesh Shah acting as the Karta. The transaction is attributed to the partition of the HUF. Importantly, this acquisition is made in reliance upon the exemption provided under Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This exemption applies to inter-se transfers among qualifying persons, such as promoters, for not less than three years prior to the acquisition, thus obviating the need for an open offer.
Impact on Shareholding
Following the transaction, Jayen Ramesh Shah’s shareholding in Fine Organic Industries Limited has increased. The pre-transaction shareholding of Jayen Ramesh Shah was 49,16,366 shares, representing 16.04% of the total voting rights. Post-transaction, his holding stands at 52,23,344 shares, accounting for 17.04% of the total voting rights. The transferor, Jayen R Shah HUF, no longer holds any shares in the company post-transaction, reflecting a complete transfer of its equity stake.
Disclosure and Compliance
The disclosure regarding this acquisition has been made to BSE Limited and the National Stock Exchange of India Limited, the stock exchanges where Fine Organic Industries Limited is listed. The filing confirms that the disclosure was required under Regulation 10(5) and has been made within the stipulated timeline, with the date of filing specified as August 27, 2026 (though the transaction date is September 7, 2026, indicating prior disclosure filings based on the document). The consideration for the shares is noted as Nil, consistent with an inter-se transfer amongst promoter group members as part of a family settlement.
Source: BSE
