Janky Patel, nominated by the late Rupen Patel, has completed the transmission of the final tranche of 13,52,600 equity shares in Patel Engineering Limited (PEL), effective March 26, 2026. This acquisition, totaling 0.14% of the diluted share capital, occurred following the release of pledged shares and was executed as a transmission, exempt under Regulation 10(1)(g). Janky Patel’s post-transaction total holding stands at 3.11%.
Finalization of Share Transmission Post-Promoter Demise
This disclosure reports the final acquisition of equity shares in Patel Engineering Limited (“the Company”) by Ms. Janky Patel, acting as the nominee for the late promoter, Mr. Rupen Patel, who expired on July 5, 2024. The entire process involved multiple stages of transmission finalized over time.
Details of the Final Acquisition (March 2026)
The final acquisition detailed in this report concerns the transmission of shares that were previously pledged. The pledge was released by lenders on March 25, 2026, leading to the final transmission:
- Date of Acquisition: March 26, 2026
- Transferor/Seller: Late Mr. Rupen Patel
- Number of Shares Acquired: 13,52,600 shares
- Percentage of Diluted Capital: 0.14%
- Rationale: Transmission following the release of pledged shares.
The acquisition was executed via transmission and relies on the exemption provided under Regulation 10(1)(g) of the Takeover Regulations, thus negating the requirement for a proposed open offer disclosure (as indicated by ‘No’ in Section 6).
Total Shareholding Post-Transaction
The shareholding details reflect the cumulative effect of all transmissions to Ms. Janky Patel, including prior transfers completed in September 2024 and June 2025.
| Category | Name | Pre-Transaction Shares Held | Pre-Transaction % w.r.t. Total Capital | Post-Transaction Shares Held | Post-Transaction % w.r.t. Total Capital |
|---|---|---|---|---|---|
| Acquirer / Transferee | Ms. Janky Patel | 2,94,74,133 | 2.97% | 3,08,26,733 | 3.11% |
| Seller / Transferor | Late Mr. Rupen Patel | 13,52,600 | 0.14% | – | – |
The total shares held by Ms. Janky Patel post-transmission amount to 3,08,26,733, representing 3.11% of the total share capital of Patel Engineering Limited.
Source: BSE
