Bhagyanagar India Limited clarifies share transaction: 12.73 lakh shares remain part of promoter holding
Bhagyanagar India Limited has clarified the status of a transaction involving 12,73,335 equity shares held by Mr. Devendra Surana. The shares, which were previously reflected as a sale on stock exchange portals, have been reversed, confirming that the shares continue to constitute part of the promoter holding.The transaction involves the transfer of 12,73,335 equity shares by Mr. Devendra Surana to Bhagyanagar Copper Private Limited, a wholly owned subsidiary of Bhagyanagar India Limited. This transfer was executed as an off-market transaction and was carried out solely to facilitate a required pledge for hedging purposes.
The initial transfer was recorded under Reason Code 90, designated as "Transfer between Director and Company" in the NSDL Delivery Instructions Slip.
The company confirmed that the reported sale of the 12,73,335 equity shares by Mr. Devendra Surana, as seen on BSE/NSE portals, is inaccurate. Since no consideration was paid or received during the transaction, it did not constitute a sale or purchase.
As a result of the clarification, the 12,73,335 equity shares remain part of Mr. Devendra Surana's shareholding and are categorized under "Promoters' Holding."
Key transaction details are summarized in the table below:
| Aspect | Detail |
|---|---|
| Shares Transferred | 12,73,335 |
| Transferor | Mr. Devendra Surana |
| Recipient | Bhagyanagar Copper Private Limited (Wholly owned subsidiary) |
| Transaction Type | Off-market transfer for hedging purposes |
| Consideration Paid/Received | None |
| Current Holding Status | Remains part of Promoters' Holding |
BHAGYANGR Stock Price Movement
Bhagyanagar India Limited shares shed 1.27% in post-market trading today, closing at ₹383.30 after the equity fell by ₹4.95. The stock saw active trading volume of 54,521 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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