News Stocks Asian Paints Promoter Group Files SEBI Disclosure for Share Transmission Following Member's DemiseAsian Paints Promoter Group Files SEBI Disclosure for Share Transmission Following Member's Demise
Shailesh Chimanlal Choksi HUF filed SEBI disclosures for transmission of 17,49,690 Asian Paints shares (0.18% stake) following the demise of Mr. Shailesh Chimanlal Choksi. The HUF's Karta position transferred to Jigish Shailesh Choksi effective January 2, 2026. The transaction is exempt from open offer requirements under SEBI regulations as it involves succession within the promoter group structure.
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Shailesh Chimanlal Choksi HUF has submitted mandatory regulatory disclosures to stock exchanges following the demise of Mr. Shailesh Chimanlal Choksi, a member of Asian Paints Limited's promoter group. The disclosure was filed under Regulations 29(2) and 10(6) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The filing involves the transmission of shares due to the sad demise of Mr. Shailesh Chimanlal Choksi, with the HUF's Karta position now transferred to Jigish Shailesh Choksi. This represents a change in the leadership structure of the Hindu Undivided Family entity that forms part of Asian Paints' promoter group.
Share Transmission Details
The regulatory filing reveals that the HUF maintains its shareholding position in Asian Paints without any change in the number of shares held. The transmission involves 17,49,690 equity shares, representing 0.18% of the company's total share capital.
| Parameter | Details |
|---|---|
| Shares Transmitted | 17,49,690 equity shares |
| Percentage Holding | 0.18% |
| Total Share Capital | 9,59,19,77,90 shares |
| Transmission Date | January 2, 2026 |
| Filing Date | January 8, 2026 |
Regulatory Compliance Framework
The transaction falls under the exemption provided in Regulation 10(1)(g) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which covers transmission of shares due to death. This exemption eliminates the requirement for making an open offer to other shareholders.
| Shareholding Position | Number of Shares | Percentage |
|---|---|---|
| Before Transmission | 17,49,690 | 0.18% |
| After Transmission | 17,49,690 | 0.18% |
| Net Change | 0 | 0.00% |
The disclosure confirms that no prior intimation under Regulation 10(5) was required for this transmission, as it involves succession within the promoter group structure rather than a market acquisition.
Corporate Structure Impact
The change in Karta from Shailesh Chimanlal Choksi to Jigish Shailesh Choksi represents a succession within the HUF structure while maintaining the entity's position as part of Asian Paints' promoter group. The HUF continues to hold the same number of shares with unchanged voting rights and no encumbrances.
The filing was submitted to both BSE Limited and National Stock Exchange of India Limited, where Asian Paints shares are listed under the symbol ASIANPAINT (BSE code: 500820). The company's registered office was also notified of the transmission as part of the regulatory compliance process.
Regulatory Documentation
The comprehensive disclosure includes detailed shareholding patterns before and after the transmission, confirming transparency in the promoter group structure changes. The filing demonstrates adherence to SEBI's substantial acquisition regulations while facilitating the orderly succession of shareholding within the promoter family structure.
Historical Stock Returns for Asian Paints
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.91% | -11.16% | -12.72% | -1.19% | +2.16% | -1.87% |
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