Shailesh Chimanlal Choksi HUF has submitted mandatory regulatory disclosures to stock exchanges following the transmission of shares due to the sad demise of Mr. Shailesh Chimanlal Choksi, a member of Asian Paints Limited's promoter group. The Hindu Undivided Family (HUF) now operates under the kartaship of Jigish Shailesh Choksi, who filed the required disclosures on January 8, 2026.

Share Transmission Details

The transmission involved 1,749,690 equity shares of Asian Paints Limited, completed on January 2, 2026. The HUF's shareholding remains unchanged at 0.18% of the company's total share capital both before and after the transmission.

Regulatory Compliance

The disclosure was filed under Regulations 29(2) and 10(6) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transmission qualifies for exemption from open offer requirements under Regulation 10(1)(g) of the SEBI takeover regulations.

Shareholding Position

The HUF's shareholding position remained static throughout the transmission process, with no actual acquisition or disposal of shares occurring.

Corporate Structure Impact

The transmission represents an internal reorganization within the promoter group structure following the demise of Mr. Shailesh Chimanlal Choksi. The HUF continues as a member of Asian Paints' promoter group under the new kartaship arrangement. Asian Paints Limited's total equity share capital remains at 959,197,790 shares, with no dilution or expansion occurring as a result of this transmission.

The filing confirms compliance with all applicable SEBI regulations governing substantial shareholding disclosures and ensures transparency in promoter group shareholding changes. The transmission process was completed without any market transaction, maintaining the existing ownership structure within the promoter group.

Asian Paints is facing challenging market conditions in the third quarter, according to a recent report from Morgan Stanley. The global brokerage firm has identified weak to moderate demand trends affecting the paint manufacturer's business performance.

Regional Demand Challenges

The report highlights specific concerns in North India, where some areas are experiencing slow demand following the Diwali festival period. This post-festival slowdown is particularly noteworthy as Diwali typically marks a peak season for paint sales, with consumers traditionally undertaking home renovation and painting projects during this time.

Market Conditions Overview

Morgan Stanley's assessment points to broader market headwinds that could impact Asian Paints' quarterly performance. The weak to moderate demand trends suggest that the company may be navigating a more challenging operating environment compared to previous periods.

The brokerage's observations provide insight into the current state of the paint industry and consumer spending patterns in key markets. The identification of regional variations in demand, particularly in North India, suggests that market conditions may not be uniform across all geographical segments.

Industry Implications

The reported demand trends could have broader implications for the paint industry, as Asian Paints is considered a bellwether for the sector. Morgan Stanley's analysis indicates that market conditions remain challenging, with consumer demand showing signs of moderation in important regional markets.