Banco Products (India) Limited has filed a regulatory disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, concerning an inter se transfer of equity shares within its promoter group. The transaction involves the transfer of 29,000 equity shares representing 0.02% of the company's paid-up capital from Banco Aluminium Private Limited to Mehul Kanubhai Patel.

Transaction Details

The share transfer was executed on March 23, 2026, through an off-market inter se transfer mechanism. The official disclosure was filed on March 24, 2026, with both BSE Limited and National Stock Exchange of India Limited, where the company's shares are listed. The filing was signed by Hemendra Chandrakant Patel, Whole-time Director (DIN: 08046667) representing Banco Aluminium Private Limited as the seller, and Mehul Kanubhai Patel as the acquirer.

Shareholding Pattern Changes

The transaction resulted in minor adjustments within the promoter group holdings while maintaining the overall group stake at 67.88%. Banco Aluminium Private Limited's holding decreased from 11,92,660 shares (0.83%) to 11,63,660 shares (0.81%). Conversely, Mehul Kanubhai Patel's shareholding increased from 7,94,91,396 shares (55.57%) to 7,95,20,396 shares (55.59%).

Persons Acting in Concert

The disclosure identifies key persons acting in concert (PACs) within the promoter group. Hasumati K. Patel holds 29,58,774 shares (2.07%), Samir K. Patel maintains 1,00,33,994 shares (7.01%), and Monal S. Patel holds 26,24,386 shares (1.83%). Other PACs include Sharan M. Patel with 4,00,000 shares (0.28%), Shivam M. Patel holding 1,30,000 shares (0.09%), Gayatri M. Patel with 10,000 shares (0.01%), and Pritty V. Patel holding 2,58,774 shares (0.18%).

Regulatory Compliance

The filing confirms compliance with SEBI takeover regulations and maintains transparency in promoter group transactions. The company's total equity share capital remains unchanged at Rs. 28,60,74,600, comprising 14,30,37,300 equity shares of Rs. 2/- face value each. The disclosure was submitted to both stock exchanges where the company's shares are listed, ensuring full regulatory compliance and market transparency.

Banco Products (India) Limited has announced comprehensive tax deduction guidelines for its previously declared second interim dividend of ₹8 per share. Following the board's approval on March 13, 2026, the company has issued detailed communication to shareholders regarding Tax Deduction at Source (TDS) procedures and documentation requirements for the dividend payment.

Dividend Declaration Details

The board of directors approved the second interim dividend during their meeting held on March 13, 2026, with Company Secretary Preeti Yadav formally communicating the decision to BSE Limited and National Stock Exchange of India Limited under Regulation 30 compliance.

Newspaper Advertisement Publication

On March 14, 2026, Banco Products (India) Limited published newspaper advertisements in Business Standard (English) and Loksatta Jansatta (Gujarati) to inform shareholders about the second interim dividend declaration and record date. The company submitted copies of these newspaper advertisements to both BSE and NSE under Regulation 30 compliance requirements.

TDS Communication Framework

Banco Products (India) Limited has issued comprehensive guidelines to shareholders regarding tax deduction procedures. The company has communicated that dividend payments are taxable in shareholders' hands as per Income Tax Act provisions effective from April 1, 2020, requiring mandatory tax deduction at source during dividend distribution. Email communications have been sent to all shareholders whose email IDs are registered with the company or depositories.

Tax Deduction Rates for Different Categories

The company has outlined specific TDS rates based on shareholder categories and documentation submission:

Documentation Requirements and Information Access

For resident shareholders seeking exemption or lower rates, the company requires submission of Form 15G for individuals or Form 15H for individuals above 60 years, along with valid PAN details. Insurance companies, mutual funds, Alternative Investment Funds, and New Pension System Trust shareholders must provide specific declarations and registration documents.

Detailed information regarding the dividend declaration and TDS procedures is available on the company's website at www.bancoindia.com and stock exchange websites at www.bseindia.com and www.nseindia.com . Shareholders must submit required documentation on or before March 19, 2026, to enable appropriate TDS rate determination.