Oricon Enterprises Limited, a company listed on the National Stock Exchange and BSE, has reported a significant reduction in its promoter group shareholding through an off-market transaction. The move has resulted in the promoter group's collective stake dropping from 11.93% to 2.96%, marking a substantial change in the company's ownership structure.

Transaction Details

The off-market sale involved multiple members of the promoter group, including:

• Namrata Somani
• Surendra Somani
• Vandana Somani
• Varun Somani

Additionally, associated companies such as Varun Somani HUF, Parijat Shipping and Finale Limited, Oriental Enterprises Limited, and Sarvamangal Mercantile Company Limited were part of the transaction.

Shareholding Changes

The transaction resulted in significant changes to individual promoter holdings:

Notably, most individual promoters reduced their stakes to zero, with only Vandana Somani retaining a minimal 0.01% stake in the company.

Corporate Entities' Holdings

While individual promoters significantly reduced their stakes, some corporate entities within the promoter group maintained or adjusted their holdings:

• Varun Somani HUF: Decreased from 0.52% to 0.11%
• Parijat Shipping and Finale Limited: Maintained at 0.02%
• Oriental Enterprises Limited: Increased from 0.02% to 2.30%
• Sarvamangal Mercantile Company Limited: Decreased from 2.30% to 0.11%

Impact on Share Capital

Following the transaction, Oricon Enterprises Limited's equity share capital increased from INR 3,141.49 lakhs to INR 3,414.49 lakhs. This change in share capital structure coincides with the significant shift in promoter group shareholding.

Regulatory Compliance

The company has made this disclosure in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires prompt disclosure of any substantial change in shareholding to ensure transparency in the stock market.

The off-market nature of this transaction suggests a strategic realignment within the promoter group, potentially signaling a shift in the company's ownership dynamics. Investors and market watchers will likely be keen to observe any subsequent changes in Oricon Enterprises' management or strategic direction following this significant shareholding adjustment.

Oricon Enterprises Limited , a company listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), has witnessed a significant change in its shareholding pattern. Adarsh Somani, along with associated persons, has substantially increased their collective stake in the company from 30.60% to 40.39%.

Key Highlights of the Transaction

• Adarsh Somani acquired 11,569,000 shares, representing a 7.37% stake, through off-market transactions.
• His individual holding in Oricon Enterprises has risen from 2.68% to 10.05%.
• The promoter group, which includes 11 entities comprising family members, trusts, HUFs, and companies, now holds a 40.39% stake in the company.

Details of the Acquisition

Adarsh Somani's personal shareholding saw a significant jump:

The off-market deal has resulted in a substantial increase in the promoter group's overall stake:

Impact on Company's Equity

As a result of this transaction, Oricon Enterprises' equity share capital has increased:

• Before the acquisition: INR 3,141.49 lakhs
• After the acquisition: INR 3,414.49 lakhs

Other Notable Shareholders

While Adarsh Somani's stake saw the most significant increase, other key shareholders in the promoter group include:

• Hazarimal Somani Partnership Firm: 23.55%
• Mridula Somani: 3.19%
• Nupur Somani: 1.19%
• Adarsh Somani HUF: 1.04%

Regulatory Compliance

The disclosure of this transaction was made in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires prompt disclosure of any substantial change in shareholding to ensure transparency in the stock market.

This significant increase in promoter holding could potentially impact the company's decision-making processes and may be viewed as a sign of confidence in Oricon Enterprises' future prospects by the promoter group.