Jamshri Realty disclosed that Rajesh Damani acquired 43,93,960 equity shares through an off-market gift transfer from promoters on August 31, 2026.

The transaction involves shares transferred from Promratan Damani and Bimladevi Damani to their son, Rajesh Damani. The acquisition is exempt from open offer requirements under Regulation 10(1)(a)(i) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as it constitutes a transfer between immediate relatives without consideration. The intimation was filed under Regulation 10(5) of the SAST Regulations.

Transaction Details

The shareholding structure changes significantly following the gift deed execution. Rajesh Damani moves from a nil holding to a controlling stake in the company. The rationale for the transfer is cited as a private arrangement between family members out of love and affection.

Promratan Damani transferred 12,94,600 shares (18.53%), while Bimladevi Damani transferred 30,99,360 shares (44.36%). The total transfer represents 62.89% of the company’s total share capital. The proposed date of acquisition is any time after four working days from the intimation date.

Regulatory Compliance

The company filed the intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The acquirer confirmed compliance with all conditions specified under the SAST Regulations for exemptions related to transfers to immediate relatives. Additionally, declarations under Regulation 31(4) of the SAST Regulations confirm that no encumbrances were made on the shares during FY25-26 by the transferring promoters.

What the Numbers Show

The consolidation of promoter holdings into a single individual reduces the number of active promoter entities while maintaining the overall promoter group’s control. The complete divestment by Premratan and Bimladevi Damani indicates a full succession or consolidation of ownership interest within the family group, with no financial consideration involved in the transfer.

Jamshri Realty shareholders approved a proposal to increase the company’s borrowing limits from ₹75 crore to ₹100 crore during its 118th Annual General Meeting held on August 25, 2026. The consolidated voting results, scrutinized by Manisha Bajaj & Associates, confirm unanimous or near-unanimous support for all seven resolutions.

Key Resolutions Passed

The board transacted seven items of business at the meeting. In addition to the borrowing limit increase, shareholders approved the creation of charges on company assets. The meeting also sanctioned a related-party transaction for the purchase of a solar plant from Rampro Consultants Pvt Ltd.

The remote e-voting period ran from August 22 to August 24, 2026. Members who did not vote remotely were given an opportunity to cast their votes electronically during the meeting. The chairman noted that while members had registered to speak, none were present to ask questions. However, he did address a query raised by a shareholder regarding the company’s developments in Solapur.

Voting Results Breakdown

The scrutinizer’s report details the voting patterns for each resolution. Remote e-voting accounted for the vast majority of votes cast, with only two members voting electronically during the physical meeting via video conferencing.

Note: The significantly lower vote count for the solar plant transaction (Item 7) reflects that interested parties in related-party transactions are typically required to abstain from voting, as per regulatory norms.

Board Appointments

The AGM focused significantly on board composition. Shareholders reappointed Premratan Damani and Rekha Thirani as directors, both of whom retired by rotation. Rajesh Damani was appointed as Joint Managing Director.

Meeting Proceedings

Consolidated voting results were disseminated to the stock exchange within 48 hours of the meeting’s conclusion. The resolutions passed are deemed effective as of August 25, 2026.