Sindhu Trade Links Limited has disclosed an inter-se transfer of 6,47,51,092 equity shares, representing 3.51% of its total issued and paid-up equity share capital. The transaction occurred among members of the promoter and promoter group who are immediate relatives.

The filing, submitted to the Securities and Exchange Board of India (SEBI) on October 21, 2026, cites Regulation 10(7) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition was executed via an off-market gift without any consideration, falling under the exemption provided by Regulation 10(1)(a)(ii).

Transaction Details

The shares were transferred from three sellers to two acquirers on September 30, 2026. The specific breakdown of the share movement is as follows:

The acquirers, Rudra Sen Sindhu and Vir Sen Sindhu, confirmed that the transfer was made by way of gift through an inter-se transfer among immediate relatives. Consequently, no acquisition price per share was applicable, rendering valuation metrics such as VWAP irrelevant for this transaction.

Shareholding Pattern Changes

The internal reallocation resulted in a shift of voting rights between individual promoters while maintaining the aggregate holding of the promoter group. The combined shareholding of the acquirers increased, while that of the sellers decreased proportionally.

Specifically, Rudra Sen Sindhu’s stake rose from 4.77% to 6.42%, and Vir Sen Sindhu’s stake increased from 5.87% to 7.73%. Conversely, Vrit Pal Sindhu’s holding dropped from 6.04% to 5.10%, Satya Pal Sindhu’s fell from 5.48% to 4.56%, and Dev Suman Sindhu’s declined from 4.74% to 3.09%.

What the Numbers Show

The total shareholding of the Promoter and Persons Acting in Concert (PAC) group remained unchanged at 73.93% before and after the transaction. This indicates that the transfer was purely a consolidation of ownership within the family structure rather than an external sale or dilution of control. The regulatory compliance confirms that all conditions for the exemption under Regulation 10(1)(a)(i) regarding immediate relatives were met, with no change in the overall control dynamics of the company.

Sindhu Trade Links Limited reported an inter-se transfer of 6,47,51,092 shares among immediate relatives within the promoter group. The transaction, executed by way of gift without consideration, resulted in no change in the company's control structure.

The transfer was disclosed under Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing confirms that the total promoter shareholding remains unchanged post-transaction, as the shares moved between members of the same promoter family unit.

Transaction details

The acquisition was made pursuant to the exemption provided under Regulation 10(1)(a)(i), which covers inter-se transfers among immediate relatives who are also members of the promoter and promoter group. Since the shares were gifted rather than sold, no price was involved in the transaction.

The transfer occurred on September 30, 2026, with disclosures filed with stock exchanges on October 1, 2026. The prior disclosure under Regulation 10(5) was made on September 8, 2026, within the stipulated timeline.

Share movement breakdown

The following table details the specific transfers between family members:

Post-transaction holding patterns

Following the gift, the individual holdings within the promoter group shifted significantly, though the aggregate remained constant. Rudra Sen Sindhu’s stake increased from 4.77% to 6.42%, while Vir Sen Sindhu’s holding rose from 5.87% to 7.73%. Conversely, the transferors saw reductions in their respective stakes.

What the numbers show

A key observation from the data is the concentration shift towards the second generation of the promoter family. While the total promoter holding remains static at approximately 26.9% (sum of pre-transaction acquirer and seller holdings), the distribution has become more weighted towards Rudra Sen Sindhu and Vir Sen Sindhu. Together, their combined stake rose from 10.64% to 14.15%, representing a 3.51 percentage point increase that exactly mirrors the reduction in the holdings of Vrit Pal Sindhu, Satya Pal Sindhu, and Dev Suman Sindhu. This indicates a deliberate consolidation of equity within specific family branches without diluting overall promoter control.