Shares of Rossari Biotech gained traction today following an announcement regarding an inter-se transfer of shares within its promoter and promoter group. This transfer involves 88,00,000 equity shares and is intended to streamline the family's assets, falling under the exemption provided by Regulation 10(1)(a)(ii) of the SEBI SAST Regulations, 2011.
The transaction includes an off-market transfer of shares from Sunil Srinivasan Chari to other members of the promoter group, specifically Yash Sunil Chari, Jyotishna Sunil Chari, and Chari Family Trust. The aggregate holding of the promoter and promoter group will remain unchanged following this transaction.
Details of the Acquisition
The inter-se transfer includes the following transactions:
- Sunil Srinivasan Chari to Yash Sunil Chari: 23,00,000 shares
- Sunil Srinivasan Chari to Jyotishna Sunil Chari: 15,00,000 shares
- Sunil Srinivasan Chari to Chari Family Trust: 50,00,000 shares
The total number of shares to be acquired is 88,00,000, representing 15.89% of the total paid-up share capital of Rossari Biotech. The transfer is scheduled to be executed any time after August 28, 2025.
Shareholding Details
The shareholding pattern before and after the proposed transaction is as follows:
| Shareholder | 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 | |
| (a) Acquirer(s) and PACs (other than sellers) | ||||
| (i) Yash Sunil Chari | 1,65,000 | 0.30 | 24,65,000 | 4.45 |
| (ii) Jyotishna Sunil Chari | 10,00,330 | 1.81 | 25,00,330 | 4.52 |
| (iii) Chari Family Trust – in the name of Sunil Srinivasan Chari & Jyotishna Sunil Chari | 1,10,000 | 0.20 | 51,10,000 | 9.23 |
| Total (a) | 12,75,330 | 2.30 | 1,00,75,330 | 18.20 |
| (b) Sellers | ||||
| (i) Sunil Srinivasan Chari | 1,60,89,320 | 29.06 | 72,89,320 | 13.17 |
| Total (b) | 1,60,89,320 | 29.06 | 72,89,320 | 13.17 |
The disclosure was made under Regulation 10(5) of the SEBI SAST Regulations, 2011, and the company has confirmed that all conditions specified under the regulations have been duly complied with.
The same may please be taken on record and suitably disseminated to all concerned.
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