NewsDCM Limited: Promoters Withdraw Disclosure for Proposed Acquisition of 12,60,000 Equity Shares Under SEBI Takeover RegulationsDCM Limited: Promoters Withdraw Disclosure for Proposed Acquisition of 12,60,000 Equity Shares Under SEBI Takeover Regulations
Promoters and Directors Yuv Bharat Ram and Rahil Bharat Ram have withdrawn their SEBI Takeover Regulation 10(5) disclosure for the proposed acquisition of 12,60,000 equity shares of DCM Limited by way of gift from their father, Mr. Sumant Bharat Ram. The transaction, originally scheduled for April 30, 2026, could not be completed due to a freeze on the PAN linked to the company's ISIN during a trading window closure period. The acquirers have undertaken to make all requisite disclosures for any future transactions under the applicable SEBI regulations.
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Yuv Bharat Ram and Rahil Bharat Ram, Promoters and Directors of DCM Limited , have formally written to BSE Limited and the National Stock Exchange of India Ltd. on May 4, 2026, requesting the withdrawal of a disclosure previously filed under Regulation 10(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The withdrawal has been sought on account of the non-completion of the proposed share acquisition transaction.
Background of the Proposed Transaction
The original disclosure had been submitted in connection with a proposed acquisition of equity shares of DCM Limited by both Yuv Bharat Ram and Rahil Bharat Ram from their father, Mr. Sumant Bharat Ram, who is a Promoter and Director of the Company. The proposed transfer was to be effected by way of gift, without any monetary consideration. The key details of the proposed transaction are summarised below:
| Parameter: | Details |
|---|---|
| Acquirers: | Yuv Bharat Ram and Rahil Bharat Ram |
| Transferor: | Mr. Sumant Bharat Ram (Promoter & Director) |
| Shares per Acquirer: | 6,30,000 (Six Lakhs Thirty Thousand) equity shares |
| Total Shares Proposed: | 12,60,000 equity shares |
| Mode of Transfer: | Gift (without consideration) |
| Proposed Date of Acquisition: | April 30, 2026 |
| Regulatory Reference: | Regulation 10(5), SEBI Takeover Regulations, 2011 |
Reason for Non-Completion
The acquirers have informed the stock exchanges that the transaction could not be executed by the proposed date of April 30, 2026. The stated reason for non-completion is a freeze on the PAN associated with the ISIN of DCM Limited, which was imposed on account of an ongoing trading window closure period. This restriction prevented the transfer of shares from being carried out as planned.
Withdrawal Request and Future Compliance Undertaking
Since the proposed acquisition did not materialise, Yuv Bharat Ram and Rahil Bharat Ram have requested BSE Limited and the National Stock Exchange of India Ltd. to take note of the non-completion and withdraw the disclosure filed under Regulation 10(5). The acquirers have also provided an undertaking that, in the event of any future transaction, all necessary disclosures in compliance with the applicable provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 will be duly made. The letter, dated May 4, 2026, was signed by both acquirers from Delhi and has been copied to the Compliance Officer of DCM Limited at its Delhi office.
Historical Stock Returns for DCM
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.64% | -0.08% | +26.84% | -8.91% | -17.82% | +207.75% |
Will Yuv Bharat Ram and Rahil Bharat Ram reattempt the gifted share transfer from Sumant Bharat Ram once the trading window reopens and the PAN freeze is lifted?
How might a successful transfer of 12,60,000 equity shares to the next generation of the Bharat Ram family impact DCM Limited's promoter shareholding structure and governance dynamics?
Could the PAN freeze linked to the trading window closure indicate any broader regulatory scrutiny or insider trading investigations involving DCM Limited's promoters?
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