Jamshri Realty Limited has reported an inter-se transfer of shares where an acquirer, Rajesh Damani, has received a substantial stake of 62.89% from promoters. This acquisition, comprising 43,93,960 shares, was executed via a gift deed without any consideration, effectively consolidating a large portion of voting rights. The transaction is classified under the exemption provided by Regulation 10(1)(a)(i) of the SEBI SAST Regulations.
Significant Promoter Shareholding Transfer at Jamshri Realty
Jamshri Realty Limited has disclosed a notable change in its promoter shareholding structure. An acquirer, Rajesh Damani, who is an immediate relative of the promoters, has acquired a substantial stake of 62.89% in the company. This acquisition effectively consolidates 43,93,960 shares under the acquirer’s name.
Gift Acquisition Consolidates Control
The transaction involved an off-market, inter-se transfer of shares from the existing promoters, Premratan Damani and Bimladevi Damani, to Rajesh Damani. Crucially, this transfer was executed by way of gift, meaning no monetary consideration was exchanged. Premratan Damani transferred 12,94,600 shares (18.53% stake), and Bimladevi Damani transferred 30,99,360 shares (44.36% stake) to Rajesh Damani. This consolidation represents a significant shift in the company’s voting rights structure.
Regulatory Compliance and Exemption
The disclosure, filed under Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, intimates this acquisition. The company stated that this transaction falls within the exemption provided under Regulation 10(1)(a)(i) of the SEBI SAST Regulations, as it constitutes a transfer of shares from a promoter to their immediate relative without consideration.
The initial intimation of this proposed acquisition was made on August 31, 2026, under Regulation 10(5). This formal disclosure under Regulation 10(6) confirms the completion of the transfer, aligning with the stipulated timelines for reporting such material changes in shareholding.
Source: BSE
