Promoter Group Acquires Shares in Binny Mills Ltd Through Off-Market Gift Transfer
The Promoter Group of Binny Mills Limited has undertaken an off-market inter-se transfer of equity shares from Mr. V R Venkataachalam, resulting in the acquisition of 16,74,854 Equity Shares of the company. This transaction is structured as a gift among immediate relatives and promoter group members to facilitate smooth succession planning within the family.The acquisition involves five individuals who are immediate relatives of Mr. V R Venkataachalam and members of the Promoter Group. The entire transfer was made at zero consideration, with the shares being gifted.
According to the details provided, 16,74,854 Equity Shares were acquired in this transfer, representing 62.51% of the total paid-up Equity Share capital of Binny Mills Limited.
Details of Acquisition and Transfer
The transaction involved Mr. V R Venkataachalam as the transferor and the five family members as transferees. The number of shares transferred from Mr. V R Venkataachalam to each acquirer is detailed below:
| Transferee Name | Relationship Status | Shares Acquired |
|---|---|---|
| T Amudha | Immediate Relative/Acquirer | 3,22,977 |
| Padma | Immediate Relative/Acquirer | 3,22,977 |
| Dr. Andal Arumugam | Promoter / Immediate Relative/Acquirer | 3,22,971 |
| S Arundathi | Immediate Relative/Acquirer | 3,22,970 |
| Radha | Immediate Relative of Promoter/Acquirer | 3,22,971 |
The transaction is noted as a private family arrangement for succession planning.
Shareholding Details
While the transfer was completed without consideration, changing the share distribution in Binny Mills Limited, the company reported various shareholding movements involving other parties during this period. The shareholder structure included:
| Company/Investor Name | Shares (No.) | Percentage (%) |
|---|---|---|
| T Amudha | 3,22,971 | 12.502% |
| Padma | 3,22,977 | 72.502% |
| Dr. Andal Arumugam | 0 | 12.852% |
| S Arundathi | 3,22,970 | 12.502% |
| Radha | 3,22,971 | 72.502% |
| Anita Nandagopalan | 1,615 | 0.06% |
| Shanmugam | 659 | 0.03% |
| Arthos Breweries Limited | 92,000 | 3.56% |
| TCP Limited | 63,670 | 2.46% |
| V R Venkataachalam (Seller) | 16,74,854 | 62.51% |
Stock Price Movement
Binny Mills Ltd shares settled on Monday at ₹351.50, after losing 5.00% from its previous close. The stock was completely locked throughout the trading day, with the intraday high and low remaining flat at ₹351.50.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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