Emami Paper Mills has witnessed a significant inter se transfer of equity shares among its promoter group members, with Diwakar Finvest Private Limited filing the mandatory disclosure under SEBI regulations on February 27, 2026. The transaction involves the transfer of 10,93,751 equity shares, representing 1.8079% of the company's total share capital.

Regulatory Framework and Exemption

The inter se transfer was executed under the exemption provided by regulation 10(1)(a)(i) & 10(1)(a)(ii) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was initially filed on February 17, 2026, as required under regulation 10(5), with the actual transaction completed on February 26, 2026.

Key Acquirers and Holdings Enhancement

The transfer involved multiple acquirers within the promoter group ecosystem. Diwakar Finvest Private Limited emerged as the primary acquirer, increasing its holding from 1,63,54,971 shares (27.03%) to 1,63,65,678 shares (27.05%) by acquiring 10,707 shares through open market transactions at an average price of Rs. 87.76 per share.

Significant family members also participated in the transfer, with Jayant Goenka and Sachin Goenka each acquiring 2,10,220 shares (0.35% each) through gift transactions. Manish Goenka and Mohan Goenka substantially increased their holdings, with each acquiring 3,33,440 and 3,18,440 shares respectively, bringing their individual stakes to 4,20,440 shares (0.69% each).

Major Transferors and Share Redistribution

The shares were primarily transferred from existing promoter group members, with Suraj Finvest Private Limited being the largest transferor, reducing its holding by 10,707 shares from 1,45,26,450 to 1,45,15,743 shares (23.99%). Sushil Kumar Goenka significantly reduced his stake by transferring 5,18,210 shares, bringing his holding down from 7,26,750 to 2,08,540 shares (0.34%).

Radhe Shyam Goenka transferred 4,57,370 shares, reducing his holding from 11,61,250 to 7,03,880 shares (1.16%). Other transferors included Santosh Goenka, who transferred 97,920 shares, and Aditya Vardhan Agarwal and Harsha Vardhan Agarwal, who transferred 5,647 and 3,897 shares respectively.

Promoter Group Structure Remains Intact

Despite the extensive inter se transfer, the overall promoter group holding in Emami Paper Mills remains unchanged at 4,53,58,286 shares, representing 74.97% of the total share capital. The company's shares are listed on both National Stock Exchange of India Limited and BSE Limited.

The disclosure indicates that except for Mansi Agarwal, Sachin Goenka, and Jayant Goenka, all other acquirers belong to the promoter/promoter group. These three individuals are classified as immediate relatives of the promoter and promoter group members. The transaction reflects internal restructuring within the promoter group without affecting the overall control structure of the company, with the filing signed by Santinath Paul as the authorized signatory for Diwakar Finvest Private Limited.

Emami Paper Mills Limited has secured an extension of a crucial interim court order that continues to protect the company from arbitration proceedings in London. The Hon'ble High Court at Calcutta has extended its restraining order against defendants proceeding in arbitration before the London Maritime Arbitrators Association (LMAA).

Court Order Extension Details

The latest court order, dated 12th February, 2026, extends the interim protection till 31st March, 2026, or until further orders, whichever is earlier. This represents a continuation of legal protection that was previously set to expire on 11th November, 2025.

Scope of Restraining Order

The interim order provides comprehensive protection to Emami Paper Mills by restraining the defendants/judgment debtors from:

• Proceeding in any arbitration before London Maritime Arbitrators Association (LMAA) against the company
• Taking any further steps against the company
• Pursuing any other steps in the arbitration proceeding

Business Impact Assessment

The company has explicitly stated that there is no material impact on its financial operations or other activities due to this court order. This disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Previous Disclosure Reference

This update follows the company's earlier disclosure dated 23rd September, 2025, when the initial extension of the interim order was communicated to the stock exchanges. The company maintains transparency by keeping investors informed about significant legal developments through regular regulatory filings.

The order details were communicated to the company by its solicitors firm on 18th February, 2026, and subsequently disclosed to both BSE Limited and National Stock Exchange of India Limited on the same day.