Fiberweb (India) Limited Promoter to Acquire Shares via Gift
Fiberweb (India) Limited announced that Bhavesh Pravin Sheth, a Promoter of the company, intends to acquire 16,00,000 Equity shares. The acquisition will be made through a gift from another Promoter, Mr. Pravin V. Sheth.The proposed acquisition is exempt under Regulation 10(1)(a)(i) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as it’s an inter-se transfer of shares amongst qualifying persons. The acquisition is expected to be completed on or after April 1, 2026.
The acquisition will result in Bhavesh Pravin Sheth holding 5.56% of the company’s share capital.
The following table details the proposed acquisition:
| Name of Transferor | Name of Transferee | Number of shares proposed to be acquired | Proposed % of shareholding |
|---|---|---|---|
| Mr Pravin V Sheth | Mr Bhavesh P Sheth | 16,00,000 | 5.56% |
According to disclosures, the transaction is not subject to open offer requirements.
Shareholding details prior to and after the transaction are presented below:
| Before the proposed transaction | % w.r.t total share capital of TC | After the proposed transaction | % w.r.t total share capital Of TC | |
|---|---|---|---|---|
| A Acquirers) and sellers)(*) Acquirer Bhavesh P. Sheth | 82,49,596 | 28.66 | 98,49,596 | 34.21 |
| PACs (other than sellers) Unnati Sheth | 2329 11000 | 0.01 0.04 | 2329 11000 | 0.01 |
| Soniya Sheth Gayatri Pipes and Fittings Private Limited | 3548533 | 12.23 | 3548533 | 12.23 |
| Total | 1,18,11,458 | 1,34,11,458 | 46.58 | |
| B Seller (s) Pravin V. Sheth | 16,65,565 | 5.78 | 65,565 | 0.23 |
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