Parshwanath Corp promoter Raj Patel acquires 3.78% stake via gift
- Parshwanath Corporation Ltd promoter Raj Rushabh Patel acquired 1,18,526 shares via gift
- Stake transfer represents 3.78% of total paid-up equity capital
- Raj Rushabh Patel's holding increases to 40.63% while Indiraben N. Patel's drops to nil
- Transaction exempt from open offer requirements under SEBI SAST Regulations 2011
*this image is generated using AI for illustrative purposes only.
[Parshwanath Corporation Limited](parshwanath housing finance) disclosed an inter-se transfer of 1,18,526 equity shares, representing 3.78% of its total paid-up share capital, amongst promoters by way of gift.
The transaction involves a complete divestment of the transferor's holding to the transferee, both members of the promoter group. Mrs. Indiraben N. Patel transferred her entire stake to Mr. Raj Rushabh Patel on September 19, 2026.
Transfer Details
The movement in shareholding is detailed below:
| Particulars | Details |
|---|---|
| Transferor | Mrs. Indiraben N. Patel |
| Transferee | Mr. Raj Rushabh Patel |
| Shares Transferred | 1,18,526 (3.78%) |
| Mode of Transfer | Off market inter-se transfer immediate relative (by way of gift) |
Mrs. Indiraben N. Patel held 1,18,526 shares (3.78%) prior to the transaction. Her post-transfer holding stands at nil.
Mr. Raj Rushabh Patel held 11,54,135 shares (36.85%) before the transfer. His stake increases to 12,72,661 shares (40.63%) following the receipt of the gifted shares.
Regulatory Disclosure and Exemption
The company stated that this transfer is inter-se amongst existing promoters and does not result in any change in the aggregate shareholding of the Promoter and Promoter Group. The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Additionally, Mr. Raj Rushabh Patel submitted a report under Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing confirms that the acquisition falls within the exemption provided under Regulation 10(1)(a)(i) of the SAST Regulations, as it is an inter-se transfer among promoters. Consequently, no open offer obligation arises, and no consideration is involved as the transfer was by way of gift.
Riddhiben R. Patel, Joint Managing Director, signed the communication addressed to BSE Limited.
Historical Stock Returns for Parshwanath Housing Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | 0.0% | -13.41% | -9.99% | -13.68% | 0.0% |
How might the consolidation of promoter stake to 40.63% influence Parshwanath Corporation's future strategic decision-making and board dynamics?
Could this internal transfer signal a broader succession planning initiative within the Patel family's promoter group?
What are the potential implications for minority shareholder confidence given the increased concentration of voting power in a single individual?
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