MCG Private Family Trust has acquired 4.85 crore equity shares, representing 26.71% of the equity share capital, in MAS Financial Services Limited through transmission (2nd Stage) of equity shares from the Estate of Late Mr. Mukesh Gandhi.
The acquisition is in compliance with Regulation 29(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The shares were transmitted from the Estate of Late Mr. Mukesh Gandhi, a member of the Promoter group of the Company, to the MCG Private Family Trust.
Prior to this acquisition, the acquirer held no shares in the company. Post-acquisition, the acquirer now holds 4,84,70,442 shares, representing 26.71% of the total share/voting capital.
The shares were acquired by way of transmission (2nd Stage) through an off-market transaction. The acquired equity shares have a face value of ₹10 each.
The equity share capital/total voting capital of the target company, MAS Financial Services Limited, both before and after the acquisition, is ₹1,81,45,33,770 divided into 18,14,53,377 Equity Shares of ₹10 each.
Details of the acquisition are summarized in the table below:
| Particulars | Number of Shares | % w.r.t Total Share/Voting Capital | % w.r.t Total Diluted Share/Voting Capital |
|---|---|---|---|
| Shares carrying voting rights acquired | 4,84,70,442 | 26.71% | 26.71% |
| Total | 4,84,70,442 | 26.71% | 26.71% |
Late Shri Mukesh Chimanlal Gandhi's shareholding has been transmitted from his demat accounts to the Estate of Mukesh Chimanlal Gandhi and subsequently to MCG Private Family Trust. The details are as follows:
| Late Shri Mukesh Chimanlal Gandhi | Estate of Mukesh Chimanlal Gandhi | MCG Private Family Trust | |
|---|---|---|---|
| Demat A/c No. | IN30429512500190 | 1209770000012822 | 1209770000012818 |
| Shares | 4,83,80,139 (26.66%) | 4,83,80,139 (26.66%) | 4,83,80,139 (26.66%) |
| Demat A/c No. | 1201090008159773 | 1201090042178942 | 1201090037356291 |
| Shares | 90,303 (0.05%) | 90,303 (0.05%) | 90,303 (0.05%) |
The acquisition was disclosed in terms of Regulation 29(1) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The equity share capital/total voting capital of the target company, MAS Financial Services Limited, both before and after the acquisition, is ₹1,81,45,33,770 divided into 18,14,53,377 Equity Shares of ₹10 each.
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