National General Industries Limited , a company listed on the BSE, has reported significant changes in its promoter shareholding structure. Two promoters of the company have transferred a combined 6.33% stake to immediate family members through off-market transactions.

Details of the Share Transfers

The transfers, which took place on September 11, were executed as gifts among immediate relatives. The specifics of the transactions are as follows:

1. Sangeeta Modi transferred 270,976 equity shares, representing a 4.90% shareholding in the company.
2. Shakuntla Modi transferred 78,810 equity shares, accounting for a 1.43% stake.

Regulatory Compliance

Both transfers were conducted in compliance with regulation 10(1)(a)(i) of the SEBI (Substantial Acquisitions of Shares and Takeover) Regulations, 2011. The company has duly filed disclosures under Regulation 29(2) of these regulations to the BSE Limited.

Company Share Structure

National General Industries Limited's share structure, as per the latest available information, is as follows:

It's worth noting that the voting capital excludes partly paid-up shares, as per the company's disclosure.

Impact on Promoter Holdings

Following these transfers:

• Sangeeta Modi's shareholding in the company has reduced to zero.
• Shakuntla Modi's shareholding has also reduced to zero.

These transfers represent a significant shift in the promoter group's direct shareholding pattern, although the shares remain within the immediate family.

Market Information

National General Industries Limited is listed on the BSE with the scrip code 531651. The company's voting rights are based on the shareholding pattern filed under regulation 31 of SEBI (LODR) Regulation, 2015 for the quarter ended June 30.

This inter-se transfer of shares among promoter group members, while not affecting the overall promoter group holding, marks a notable change in the individual holdings within the promoter family of National General Industries Limited.

National General Industries Limited (NGIL) is set to witness a significant change in its promoter group shareholding structure. Pawan Kumar Modi, a member of the company's promoter group, is poised to acquire a 6.32% stake in the company through an inter-se transfer from family members.

Transaction Details

The proposed acquisition involves the transfer of 349,786 equity shares, representing 6.32% of NGIL's total equity. The shares will be transferred as a gift from two immediate family members:

1. Sangeeta Modi (wife of Pawan Kumar Modi's brother): 270,976 shares
2. Shakuntala Modi (Pawan Kumar Modi's mother): 78,810 shares

Shareholding Impact

This transaction will significantly boost Pawan Kumar Modi's stake in the company:

Regulatory Compliance

The proposed transfer is exempt from open offer requirements under the Securities and Exchange Board of India (SEBI) Substantial Acquisition of Shares and Takeovers Regulations, 2011. This exemption falls under Regulation 10(1)(a)(i), which allows inter-se transfers between qualifying persons who are immediate relatives.

Transaction Timeline

The share transfer is scheduled to take place on or after September 9, 2025. As this is a gift transaction, there will be no monetary consideration involved.

Disclosure and Transparency

In compliance with regulatory requirements, Pawan Kumar Modi has submitted the necessary intimation to the BSE Limited on September 2, 2025. This disclosure includes details of the proposed acquisition, the rationale behind the transfer, and declarations regarding compliance with applicable regulations.

Promoter Group Shareholding

As of March 31, 2025, the promoter and promoter group of National General Industries Limited, including persons acting in concert, held 3,628,902 equity shares. The company has consistently reported no encumbrances on these shares over the past three financial years.

This inter-se transfer within the promoter group reflects a reorganization of family holdings while maintaining the overall promoter stake in National General Industries Limited. The transaction underscores the continued commitment of the Modi family to the company's ownership structure.