Vivek Madhavprasad Jalan to receive shares in Mahalaxmi Seamless Ltd through gift transaction
Mahalaxmi Seamless Limited has announced a proposed off-market inter-se transfer of equity shares by way of a gift between the promoters of the company. The transaction involves the gifting of 551,412 equity shares from one promoter to another, with the effective date set for on or after July 15, 2026.The proposed acquisition consists of 551,412 equity shares, which represent 0.44% of the company's share capital. The acquirer, Vivek Madhavprasad Jalan, is noted as an immediate relative of the transferor, Madhavprasad Govindram Jalan.
The transaction will result in a significant increase in the holding of Vivek Madhavprasad Jalan. Prior to the proposed gift, Mr. Vivek Madhavprasad Jalan held 508,080 shares, representing 9.62% of the total diluted share capital of Mahalaxmi Seamless Ltd.
Following the inter-se transfer, which is being executed by way of a gift, Mr. Madhavprasad Govindram Jalan will have nil shares in the company. Concurrently, Vivek Madhavprasad Jalan's shareholding is set to increase to 1,059,492 shares, accounting for 20.06% of the total diluted share capital.
The details of the promoter shareholding before and after the proposed transaction are presented in the table below:
| Promoter | Role | Shares Held Before Transaction | Percentage Before Transaction | Shares After Transaction | Percentage After Transaction |
|---|---|---|---|---|---|
| Vivek Madhavprasad Jalan | Acquirer | 508,080 | 9.62% | 1,059,492 | 20.06% |
| Madhavprasad Govindram Jalan | Transferor | 551,412 | 10.44% | Nil | Nil |
Stock Price Movement
Mahalaxmi Seamless Ltd. settled at ₹8.19 on Tuesday, marking zero percentage change in the stock price. The shares remained completely flat throughout the trading session, with the intraday range locked between ₹8.19 and ₹8.19.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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