Rajputana Stainless Limited has disclosed an inter-se transfer of shares, involving gifts from Jayesh Natvarlal Pithva to Daksha Jatin Sidhpura, Bhavika Samir Chudasama, and Jyotsna Haresh Parmar. A total of 90,000 shares, representing 0.12% of the company’s total paid-up capital, were transferred through gift deeds. This transaction is exempt from open offer requirements under SEBI regulations, as it occurs within the promoter group and does not alter the overall promoter holding or control.
Inter-Se Share Transfer Among Promoters
Rajputana Stainless Limited has officially notified stock exchanges about a series of inter-se transfers of shares occurring within its Promoter and Promoter Group. These transfers are being executed through gift deeds, a mechanism exempt from the open offer requirements under Regulation 10(1)(a)(i) & (ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosed transactions collectively involve 90,000 shares, representing 0.12% of the company’s total share capital.
Details of the Gift Transactions
The primary transferor in these transactions is Jayesh Natvarlal Pithva. The shares are being gifted to three individuals who are also part of the Promoter Group: Daksha Jatin Sidhpura, Bhavika Samir Chudasama, and Jyotsna Haresh Parmar. Each of these transferees is receiving 30,000 shares, which constitutes 0.04% of the company’s share capital for each individual.
Exemption and Impact on Shareholding
The company has clarified that these transfers are a result of a private family arrangement and are being conducted by way of a gift deed, implying no consideration is involved. As per the disclosures, the acquirers qualify for exemption under Regulation 10(1)(a) of the SEBI (SAST) Regulations, 2011, as they are either immediate relatives or persons named as promoters for at least three years prior to the proposed acquisition. Crucially, these inter-se transfers will not lead to any change in the total aggregate shareholding of the Promoter and Promoter Group. The transaction date is specified as on or after November 5, 2026.
Source: BSE
