HMA Agro Industries Limited has disclosed a proposed inter-se transfer of shares within its promoter group, involving the gifting of 4,25,75,347 equity shares from Wajid Ahmed to Mohammad Kamil Qureshi. The transaction, valued at nil consideration, represents 8.50% of the company’s total share capital and is structured as part of the family’s succession planning and asset streamlining strategy. Because the aggregate holding of the promoter group remains unchanged before and after the transfer, the move does not alter the effective control structure of the company but redistributes ownership among immediate relatives.

The disclosure was made pursuant to Regulation 10(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, read with Regulation 30 and Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company notified both the Bombay Stock Exchange Limited and The National Stock Exchange of India Limited on August 1, 2026. The proposed date for the execution of the gift deed is on or after August 7, 2026. As this is an off-market transaction between immediate relatives belonging to the promoter group, it falls under the exemption provided in Regulation 10(1)(a)(i) of the SAST Regulations, thereby waiving the requirement for an open offer to public shareholders.

Transaction Details

The following table outlines the specifics of the proposed acquisition:

Mohammad Kamil Qureshi, the acquirer, confirmed that he is an immediate relative of the transferor and a member of the promoter group. Prior to this transaction, Qureshi held zero shares in the company, while Wajid Ahmed held 4,25,75,347 shares (8.50%). Post-transaction, Qureshi will hold the entire block of 4,25,75,347 shares, and Wajid Ahmed’s holding will reduce to zero.

Regulatory Compliance

The acquirer has declared compliance with all conditions specified under Regulation 10(1)(a) regarding exemptions. Both parties have affirmed adherence to the applicable disclosure requirements under Chapter V of the Takeover Regulations, 2011. Since no monetary consideration is involved, provisions related to price determination under Regulation 8 are not applicable. The company’s Company Secretary and Compliance Officer, Nikhil Sundrani, certified the disclosure, ensuring that all procedural mandates under the Insider Trading Regulations, 2015, were also met.

What the Numbers Show

The redistribution of shares highlights a consolidation of ownership within the immediate family circle without diluting the promoter group’s overall stake. With the aggregate promoter holding remaining static at pre-transaction levels, market participants should note that there is no change in the effective voting power or control dynamics of HMA Agro Industries Limited. The transaction serves primarily as an estate planning mechanism rather than a strategic shift in corporate governance or external investment interest.

hma agro industries announced significant changes in its leadership effective June 02, 2026, following the resignation of its Managing Director and the retirement of its Whole Time Director and Chief Executive Officer. The company disclosed these developments in a regulatory filing submitted on June 03, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The exits mark a major shift in the top management structure of the Five Star Export House.

Mohammad Mehmood Qureshi (DIN: 02839611) tendered his resignation from the position of Managing Director and Director, effective from the close of business hours on June 02, 2026. In his resignation letter addressed to the Board, Qureshi stated that the decision was made due to personal and professional commitments. He confirmed there were no other material reasons for his resignation and expressed gratitude to the Board and management team for their support during his tenure.

Simultaneously, Gulzeb Ahmed (DIN: 06546660) retired from the positions of Whole Time Director and Chief Executive Officer (CEO), also effective from the close of business hours on June 02, 2026. Ahmed communicated his unwillingness to continue for the next term of appointment. While stepping down as CEO, a role he held since April 22, 2025, he confirmed that he will continue to serve as the Chief Financial Officer (CFO) of the company.

The company confirmed that the requisite disclosures, including details of the resignation and retirement letters, were submitted in accordance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2026/14 dated January 30, 2026. The information has been made available on the company's website.

The Board of Directors has been requested to accept the resignations and complete the necessary statutory formalities, including the filing of requisite forms with the Registrar of Companies and other regulatory authorities. The registered office of HMA Agro Industries Limited is located at 18A/5/3, Taj View Crossing, Fatehabad Road, Agra-282001, Uttar Pradesh.