Sanghvi Movers promoter gifts 1.05 crore shares to spouse
- Sanghvi Movers disclosed a gift transfer of 1,05,53,614 shares within the promoter group
- The transaction represents 12.19% of total share capital with nil consideration
- Aggregate promoter holding remains unchanged post-transfer
- Filing made under Regulation 10(7) of SEBI SAST Regulations, 2011
*this image is generated using AI for illustrative purposes only.
Sanghvi Movers Limited disclosed an inter-se transfer of 1,05,53,614 equity shares by way of gift among members of its promoter group. The transaction, executed without consideration, involves a transfer from Rishi Chandrakant Sanghvi to Maithili Rishi Sanghvi.
This off-market transfer constitutes approximately 12.19% of the company's total share capital. The filing confirms that the aggregate holding of the Promoter and Promoter Group remains unchanged before and after the transaction, as the shares remain within the same group.
Transaction details
The acquisition was reported under Regulation 10(7) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The parties involved are immediate relatives, specifically spouses, qualifying for exemption under Regulation 10(1)(a)(i).
| Particulars | Details |
|---|---|
| Transferor (Donor) | Rishi Chandrakant Sanghvi |
| Transferee (Donee) | Maithili Rishi Sanghvi |
| Number of shares | 1,05,53,614 |
| Percentage of holding | 12.19% |
| Consideration | Nil (Gift) |
| Date of acquisition | September 10, 2026 |
Regulatory compliance
The acquirer, Maithili Rishi Sanghvi, submitted the report to SEBI on October 1, 2026, within the stipulated 21 working days from the date of acquisition. Prior intimations were filed with the stock exchanges on September 1, 2026, and September 15, 2026, under Regulations 10(5) and 10(6), respectively.
Since the shares were transferred by way of gift pursuant to a Gift Deed, no consideration was involved. Consequently, the valuation parameters regarding the sixty-day volume-weighted average market price (VWAP) or price determination for infrequently traded shares were marked as not applicable.
What the numbers show
The disclosure highlights a shift in individual promoter holdings while maintaining group stability. The transferee’s stake increased from 8,65,760 shares (1.00%) to 1,14,19,374 shares (13.19%). Conversely, the transferor’s holding decreased from 2,49,50,494 shares (28.82%) to 1,43,96,880 shares (16.63%). This reallocation does not alter the overall promoter control percentage, indicating an internal estate planning measure rather than a change in corporate control.
Historical Stock Returns for Sanghvi Movers
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.34% | -5.58% | -4.49% | +46.34% | +8.47% | +365.08% |
How might the increased individual holding of Maithili Rishi Sanghvi influence future board-level decision-making or strategic direction at Sanghvi Movers?
Could this estate planning move signal a broader succession strategy that may eventually lead to changes in the promoter group's voting rights structure?
What are the potential tax implications for the promoter family regarding future dividends or capital gains following this gift transfer?
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