Kundan Edifice Limited has disclosed an inter-se transfer of shares between members of the promoter group on 14th November 2024. The transaction involves the transfer of 9,97,200 equity shares, with each of the following members receiving 3,32,400 shares: Divyansh Mukesh Gupta, Mallika Mukesh Gupta, and Shubhang Mukesh Gupta. The shares are transferred by Mrs. Vijaya Mukesh Gupta through an off-market transaction by way of a gift deed.

This transfer falls under the exemption provided by Regulation 10(1)(a)(i) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SAST) and does not require an open offer, as the transfer is amongst immediate relatives and is part of a family arrangement.

No Change in Shareholding

After the completion of the transfer, there will be no change in the promoter group's total shareholding, which remains at 62.28% of the company's total equity. The aggregate holding of the promoter group, as detailed in the disclosure, remains the same, with the transaction being a private family arrangement aimed at streamlining family assets.

Regulatory Compliance

This inter-se transfer complies with the SEBI (SAST) Regulations, with necessary disclosures made under Regulation 10(5). The transaction also adheres to the provisions under SEBI (Prohibition of Insider Trading) Regulations, 2015, ensuring full compliance with applicable insider trading rules.

For more information, Kundan Edifice Limited has filed the relevant documentation with the National Stock Exchange (NSE) and SEBI.

About Kundan Edifice Limited
Kundan Edifice Limited is a leading player in the real estate sector, with a focus on delivering quality infrastructure projects. The company is committed to maintaining transparency in all its business dealings and complies with regulatory requirements for corporate governance and disclosure.

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