Hemo Organic promoters sell 11.88% stake to Jasani group
- Promoters sold 11.88% stake in two days via off-market sales
- Ketanaben Jasani and PACs acquired the entire 11.88% block
- Post-deal, Jasani group holds 18.72% of total share capital
- Buyers confirmed as non-related parties with no special rights
*this image is generated using AI for illustrative purposes only.
Hemo Organic Limited promoters Dineshbhai Shanabhai Patel and Sonalben Dineshbhai Patel have collectively divested 11.88% of the company's total share capital through off-market sales on September 23 and September 24, 2026.
The latest disclosure filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, confirms that Dineshbhai Patel sold an additional 60,000 shares (1.73%) on September 24, 2026. This transaction follows his disposal of 3,11,972 shares (9.00%) and Sonalben Patel's sale of 40,000 shares (1.15%) on September 23, 2026. Concurrently, Ketanaben Jasani and Persons Acting in Concert (PACs) disclosed the acquisition of these same shares, confirming the counterparty to the off-market deals.
Shareholding movement
The table below captures the change in Dineshbhai Patel's shareholdings following the sequential disposals:
| Promoter | Before Sep 23 | Disposed Sep 23 | After Sep 23 | Disposed Sep 24 | After Sep 24 |
|---|---|---|---|---|---|
| Dineshbhai Patel (% of total capital) | 15.49% | 9.00% | 6.48% | 1.73% | 4.76% |
| Dineshbhai Patel (Shares) | 5,36,940 | 3,11,972 | 2,24,986 | 60,000 | 1,64,968 |
Sonalben Patel's holding remained unchanged at 0.21% after her single-day disposal on September 23. The total equity share capital of Hemo Organic remains unchanged at 34,65,900 equity shares of ₹10 each, aggregating to ₹3,46,59,000. The fully diluted share capital stands at 68,65,900 equity shares of ₹10 each, aggregating to ₹6,86,59,000, assuming full conversion of all outstanding convertible securities and warrants.
Acquirer disclosures
Ketanaben Jasani, acting for herself and Persons Acting in Concert (PAC), filed a disclosure under Regulation 29(2) confirming the acquisition of 4,11,972 shares (11.88% of total capital) on September 24, 2026. The acquirers include Ketanaben Jasani, Jasani Family Private Trust, and Heemaben Makadia. The PACs are Ayush Dharmendrabhai Jasani and Dharmendrabhai Becharbhai Jasani.
The acquisition was executed via an off-market purchase. The table below details the post-acquisition holdings of the Jasani group:
| Acquirer/PAC | Pre-acquisition Holding (%) | Acquisition (%) | Post-acquisition Holding (%) |
|---|---|---|---|
| Ketanaben Jasani | 0.00% | 4.50% | 4.50% |
| Jasani Family Private Trust | 0.00% | 2.88% | 2.88% |
| Heemaben Makadia | 0.00% | 4.50% | 4.50% |
| Ayush Dharmendrabhai Jasani (PAC) | 3.63% | 0.00% | 3.63% |
| Dharmendrabhai Becharbhai Jasani (PAC) | 3.21% | 0.00% | 3.21% |
| Total Group Holding | 6.84% | 11.88% | 18.72% |
Context: broader promoter stake sale
These daily disposals form part of a wider promoter divestment strategy. Separately, Dineshbhai Patel and Sonalben Patel entered into share purchase agreements on September 22, 2026 to sell a combined 16.38% equity stake, comprising 5,67,958 fully paid-up equity shares, to the Jasani Family Trust and other buyers via an off-market route.
The buyers under those agreements include Mrs. Ketanaben Jasani, Mrs. Heema Makadia, M/s. V9BIZ Business Solution LLP, and Jasani Family Trust. None of the buyers are related to the promoter or promoter group, and the transactions do not fall within the definition of related party transactions. The share purchase agreements do not confer any special rights on the buyers, including no right to appoint directors, affirmative voting rights, veto rights, or pre-emptive rights.
Regulatory disclosures
The September 23 and September 24, 2026 disposals were disclosed to BSE Limited under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The broader stake sale was disclosed to the exchanges under Regulation 30 and Regulation 30A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, referencing the SEBI Master Circular dated January 30, 2026. Hemo Organic is listed on BSE Limited.
Will the Jasani group's increased stake to 18.72% trigger any mandatory open offer obligations or further regulatory scrutiny under SEBI takeover norms?
How might the significant reduction in promoter holding to below 5% for Dineshbhai Patel impact investor confidence and the company's corporate governance ratings?
What strategic synergies or operational changes can be expected from the Jasani family's entry into Hemo Organic's shareholder base given their prior PAC holdings?
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