Millars Machinery Company Private Limited, a part of the Promoter Group of GMM Pfaudler Ltd, has announced its intention to acquire 25,000 equity shares of GMM Pfaudler, representing 0.06% of the share capital, from Mrs. Pragna Patel via an inter-se promoter transfer. This proposed acquisition is exempted under Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SAST Regulations).
The intimation was made under Regulation 10(5) of the SAST Regulations. As per the disclosure, the transfer is an off-market transaction amongst promoter group members.
The proposed date of acquisition will be on or after August 28, 2025, at a price of ₹1,400 per equity share. The volume weighted average market price for 60 trading days preceding the notice date is ₹1,546.
| Particulars | Details |
|---|---|
| Name of the person from whom shares are to be acquired | Mrs. Pragna Patel |
| Proposed date of acquisition | On or after August 28, 2025 |
| Number of shares to be acquired | 25,000 |
| Total shares to be acquired as % of share capital of TC | 0.06% |
| Price at which shares are proposed to be acquired | ₹1,400 per Equity Share |
| Volume weighted average market price for 60 trading days | ₹1,546 |
Shareholding Details:
The following table presents the shareholding details before and after the proposed transaction:
| Acquirer(s) and PACs (other than sellers) | Before the proposed transaction | After the proposed transaction | ||
|---|---|---|---|---|
| No. of shares /voting rights | % w.r.t total share capital of TC | No. of shares /voting rights | % w.r.t total share capital of TC | |
| Millars Machinery Company Pvt. Ltd. (Acquirer) | 43,36,357 | 9.65 | 43,61,357 | 9.71 |
| Uttarak Enterprise Pvt. Ltd. | 12,32,655 | 2.74 | 12,32,655 | 2.74 |
| Millars Concrete Technologies Pvt. Ltd. | 11,04,724 | 2.46 | 11,04,724 | 2.46 |
| A. J. Patel HUF | 8,31,705 | 1.85 | 8,31,705 | 1.85 |
Additional Shareholding Details:
| Name | Shares Before | % Before | Shares After | % After |
|---|---|---|---|---|
| A. J. Patel Charitable Trust | 7,59,375 | 1.69 | 7,59,375 | 1.69 |
| Tarak Patel | 5,21,880 | 1.16 | 5,21,880 | 1.16 |
| Urmi Patel | 23,60,022 | 5.25 | 23,60,022 | 5.25 |
| Panna Patel | 1,01,250 | 0.23 | 1,01,250 | 0.23 |
| Pragna Patel | 48,480 | 0.11 | 23,480 | 0.05 |
| Ashok Patel | 20,235 | 0.05 | 20,235 | 0.05 |
| Palomita Patel | 3,600 | 0.01 | 3,600 | 0.01 |
| Total | 1,13,40,483 | 25.18 | 1,13,40,483 | 25.18 |
The Acquirer confirms that the transferor and the transferee have complied with and will continue to comply with the applicable disclosure requirements in terms of SEBI SAST Regulations.
All conditions specified under Regulation 10(1)(a) of the SEBI SAST Regulations with respect to the exemption has been duly complied with by the Acquirer.
The Acquirer hereby confirms that the acquisition price is ₹1,400 per equity share, which is not higher by more than 25% of the price computed in point 6 i.e. ₹1,546.
The intimation was submitted to both the BSE and the National Stock Exchange of India.
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