Promoter Dilip Manharlal Parekh disposed of 34,89,760 equity shares, constituting 31.73% of the paid-up share capital of Prima Innovation Limited , to fellow promoter Bhaskar Manharlal Parekh. The transaction was executed as an off-market inter-se transfer by way of gift on October 6, 2026.

The disclosure was filed with the BSE on October 7, 2026, under Regulation 4(1) and Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The transaction value is stated as nil since it is an off-market inter-se transfer through gift. The acquisition falls under the exemption provided by Regulation 10(1)(a)(i) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, exempting the acquirer from making an open offer.

Shareholding details

Following the transfer, Bhaskar Manharlal Parekh's direct holding increased to 56.14%, while the aggregate holding of the acquirer and Persons Acting in Concert (PACs), excluding the seller, rose to 58.29%. Dilip Manharlal Parekh's shareholding reduced to zero after the transfer of his entire 31.73% stake.

What the Numbers Show

The transaction represents a consolidation of promoter holdings within the family rather than a change in control. While the individual shareholding of Bhaskar Manharlal Parekh more than doubled, the total promoter group shareholding remained static at 58.29% of the total share capital. The shift moves the majority of the promoter group's economic interest directly into the hands of Bhaskar Manharlal Parekh, increasing his direct voting rights significantly without altering the overall ownership structure of the company.

Prima Innovation promoter Bhaskar Manharlal Parekh intends to acquire 34,89,760 equity shares, representing 31.72% of the company’s total share capital, from his brother Dilip Manharlal Parekh through an inter-se transfer by way of gift.

The proposed acquisition is scheduled to take place between September 28 and October 7, 2026. This transaction follows a similar consolidation earlier in September, where Dilip Parekh acquired shares from his wife Madhavi Dilip Parekh, indicating a broader restructuring of individual holdings within the promoter family.

Regulatory Exemption and Filing Details

The transfer falls under the exemption provided in Regulation 10(1)(a)(i) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as it involves an inter-se transfer between immediate relatives within the promoter group. Consequently, no open offer is required, and no consideration will be paid for the shares.

Prima Innovation filed the disclosure under Regulation 10(5) with the Bombay Stock Exchange (BSE) on September 25, 2026. The filing confirmed that the requisite fee was remitted to SEBI via NEFT on September 18, 2026, for the previous transaction, while this new intimation serves to notify the exchange of the upcoming transfer between brothers.

Shareholding Pattern Changes

The proposed transaction will result in a significant shift in individual promoter holdings while leaving the aggregate promoter group stake unchanged at 58.29%. The total equity share capital of Prima Innovation remains at 11,000,470 equity shares of ₹5 each.

Note: The acquirer's post-transaction holding includes shares held by Persons Acting in Concert (PACs) such as Pratik Bhaskar Parekh and Chhaya Bhaskar Parekh, which remain unchanged.

What the Numbers Show

The data reveals a rapid succession of intra-family transfers aimed at centralizing voting rights. In less than three weeks, Dilip Manharlal Parekh’s holding moved from 28.03% to 31.73% (via gift from his wife) and then to zero (via gift to his brother). Conversely, Bhaskar Manharlal Parekh’s stake jumps from 24.41% to 56.14%, making him the single largest shareholder by a wide margin. This pattern suggests a deliberate estate planning or succession strategy, consolidating majority control under one individual within the promoter group without altering the overall family ownership structure.