Promoter Group Completes Inter-Se Share Transfer in Citizen Solar Limited Stockholding
Citizen Solar Limited, previously known as Citizen Infoline Limited, announced a significant inter-se share transfer within its promoter group on 09/01/2017. The acquisition was made by Mr. Harsh Omprakash Jain and involved shares held by members of the promoter family.The transaction saw Mr. Harsh Omprakash Jain acquire a total of 6,00,000 equity shares in Citizen Solar Limited. These shares were acquired from two individuals: Mr. Dhanpatraj Lalchand Jain and Mrs. Sangita Dhanpatraj Jain. Each transferor sold 3,00,000 shares to Mr. Harsh Omprakash Jain.
The acquisition was conducted via an inter-se transfer among members of the promoter group, as per a Gift Deed dated 09/01/2017. The transaction was executed out of natural love and affection and involved no monetary consideration.
As noted in the detailed records, all three parties—Mr. Harsh Omprakash Jain, Mr. Dhanpatraj Lalchand Jain, and Mrs. Sangita Dhanpatraj Jain—are designated as promoters and have been listed as such in the shareholding pattern filed with the stock exchange for over three years prior to the transaction.
The details of the acquisition and its impact on the company's capital structure are summarized below:
| Transaction Detail | Figure |
|---|---|
| Total Shares Acquired by Mr. Harsh Omprakash Jain | 6,00,000 |
| Shareholding Percentage from each Seller | 5.56% |
| Total Shares Acquired as % of Paid-up Capital | 11.12% |
Prior to the transaction, the shareholding held by Mr. Harsh Omprakash Jain was recorded at 1,24,995 shares, representing 2.39% of paid-up capital. Following the inter-se transfer, the post-transaction holding for Mr. Harsh Omprakash Jain increased to 7,24,995 shares, which constitutes 13.50% of the company’s total paid-up capital.
The transaction underscores that there has been no change in the aggregate total shareholding of the Promoter Group resulting from this intra-group transfer.
Stock Price Movement
At the close of trade on Monday, shares of Citizen Infoline Ltd settled at ₹236.95, edging higher by 0.98%. The stock traded completely flat throughout the session, with its high and low remaining precisely 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.
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