Harsh Omprakash Jain Acquires Shares in Citizen Solar Limited Through Inter-Se Transfer
Mr. Harsh Omprakash Jain, a member of the Promoter Group, has acquired 6,00,000 equity shares of Citizen Solar Limited through an inter-se transfer among members of the promoter group. The transaction involved the acquisition from two family members—Mr. Dhanpatraj Lalchand Jain and Mrs. Sangita Dhanpatraj Jain.The share transfer was completed on January 9, 2017. According to the details provided in the report, Mr. Harsh Omprakash Jain acquired 3,00,000 shares from each of the two sellers. The acquisition was structured as a gift through a Gift Deed dated January 9, 2017, and was made without monetary consideration, stemming from natural love and affection.
The transaction details are summarized below:
| Detail | Pre-Transaction Status | Post-Transaction Status |
|---|---|---|
| Total Shares Acquired by Mr. Harsh Omprakash Jain | 0 shares | 6,00,000 shares |
| Total Shares Held by Seller 1 (Mr. Dhanpatraj Lalchand Jain) | 3,00,000 shares (5.56% of capital) | N/A |
| Total Shares Held by Seller 2 (Mrs. Sangita Dhanpatraj Jain) | 3,00,000 shares (5.56% of capital) | N/A |
| Post-Transaction Total Share Capital | 7,24,995 shares | - |
| Acquirer's Holding after Transaction | Less than 13.5% of total paid up capital | Up to 13.5% of the company's shareholding |
Acquisition Rationale and Context
The transfer was conducted entirely between existing members of the Promoter Group, with both the sellers and the transferee having been listed as promoters in the company’s filings for more than three years prior to the acquisition date. The shares were acquired at NIL price through the gift deed.As a result of this intra-group transaction, there has been no change in the aggregate total shareholding of the Promoter Group in Citizen Solar Limited.
Stock Price Movement
Citizen Infoline Ltd shares settled at ₹236.95 on Monday, ticking up after a gain of ₹2.30 or 0.98%. The stock remained completely locked throughout the session, with its intraday high and low both recorded identically at ₹236.95.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.