Neelkanth Limited Announces Major Promoter Group Share Reshuffle
Neelkanth Limited disclosed an inter-se transfer of shares within its promoter group, scheduled for September 23, 2025. Bhavik Rashmi Bhimjyani will gift 8.02% equity to Rashmi C Bhimjyani, while R T Agro Private Limited will transfer 7.50% equity through the open market. This reshuffling will significantly alter individual promoter holdings, with Rashmi C Bhimjyani's stake increasing to 48.32%, Bhavik Rashmi Bhimjyani's reducing to 0.05%, and R T Agro Private Limited's rising to 9.80%. The company emphasized that this transfer is exempt from open offer requirements under SEBI regulations. The aggregate promoter group shareholding will remain unchanged.
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Neelkanth Limited , formerly known as R T Exports Limited, has disclosed a significant reshuffling of shares within its promoter group. The company announced an inter-se transfer of shares that will result in a substantial change in the individual holdings of key promoters while maintaining the overall promoter group stake.
Details of the Share Transfer
The proposed transaction, scheduled to take place on or after September 23, 2025, involves two key transfers:
- Bhavik Rashmi Bhimjyani will gift 349,566 shares, representing 8.02% of the company's equity, to Rashmi C Bhimjyani.
- R T Agro Private Limited will transfer 326,925 shares, constituting 7.50% of the equity, through the open market.
Impact on Shareholding
This reshuffle will lead to significant changes in the individual holdings of the promoter group members:
| Promoter | Before | After |
|---|---|---|
| Rashmi C Bhimjyani | 40.30% | 48.32% |
| Bhavik Rashmi Bhimjyani | 15.57% | 0.05% |
| R T Agro Private Limited | 2.30% | 9.80% |
Regulatory Compliance
The company has emphasized that this inter-se transfer falls within the exemption under Regulation 10(1)(a)(i) & 10(1)(a)(ii) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. As such, it does not trigger an open offer requirement.
Market Context
The volume-weighted average market price for Neelkanth Limited's shares over the 60 trading days preceding the announcement was approximately Rs. 48.76 per share.
Unchanged Aggregate Holding
It's important to note that despite the significant individual changes, the aggregate shareholding of the Promoter and Promoter Group will remain unchanged before and after the proposed inter-se transfer.
Neelkanth Limited has stated that all necessary disclosures have been made to the stock exchanges in compliance with regulatory requirements. The company's management assures that this internal restructuring of promoter holdings does not affect the overall promoter group's commitment to the company.
