Jyotsna Poddar has filed a mandatory disclosure regarding the inter-se transfer of shares in Paradeep Phosphates Limited (PPL) on February 9, 2026. The transaction involves 26,22,000 equity shares, constituting 0.25% of PPL’s total capital, moving from Akshay Poddar to Jyotsna Poddar. This transfer is classified as a gift between relatives within the promoter/promoter group and is exempt from making an open offer under current regulations.
Regulatory Filing for Inter-se Share Transfer
Jyotsna Poddar submitted a formal disclosure to the stock exchanges, National Stock Exchange of India Limited and BSE Limited, on 09th February, 2026. The subject of the filing is the required disclosure under Regulation 10(5) concerning the acquisition of shares under Regulation 10(1)(a) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Details of the Proposed Acquisition
The proposed transaction details indicate that the acquisition involves 26,22,000 shares, representing 0.25% of the total share capital of the Target Company (TC), Paradeep Phosphates Limited. The proposed date for this acquisition is stated as On or after 13th February, 2026.
Rationale and Consideration
Crucially, the rationale for the transfer specifies “No monetary consideration as Inter-se transfer as gift among promoter/promoter group between relatives.” The transfer is documented as an inter-se transfer and gift of shares occurring within the promoter group and between relatives.
Exemption Status
The acquirer, Jyotsna Poddar, confirmed that the transaction falls under sub-clause 10(1)(a)(i) of the SEBI (SAST) Regulations, 2011, which provides an exemption from the requirement of making an open offer. Furthermore, the acquirer declared that all necessary conditions for this exemption have been duly complied with.
Shareholding Pattern Shift
The filing provided a detailed comparison of the shareholding structure before and after the proposed transaction:
- Acquirer (Jyotsna Poddar): Before the transfer, the holding was 2,93,874 shares (0.03%). After the transfer, this increases significantly to 29,15,874 shares (0.28%).
- Seller (Akshay Poddar): The seller’s holding will decrease substantially from 26,22,545 shares (0.25%) to just 545 shares (0.00%) following the transfer.
Jyotsna Poddar signed the declaration on 09th February, 2026, in Kolkata, confirming that the disclosure adheres to all requisite regulatory disclosure requirements.
Source: BSE
