Promoter of Inducto Steel Limited, Mr. Rajeev Shantisarup Reniwal, has made a disclosure dated 24th September, 2026 regarding inadvertent non-compliance with Regulation 10(5) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 for acquisition of shares by way of gift.
Transaction Details
Inter-Se Promoter Gift Transfer
Mr. Rajeev Reniwal, being a promoter of Inducto Steel Limited, informed that an inter-se transfer of 375 equity shares and 1,53,000 equity shares of the Company, representing 3.82% of the paid-up equity share capital / voting rights, was undertaken by him from Mrs. Lalitadevi Shantisarup Reniwal, an existing promoter of the Company, on 18th August, 2026 and 20th August, 2026 respectively.
Regulatory Framework
- Nature: Acquisition by way of Gift pursuant to inter-se transfer amongst Promoters.
- Exemption: Pursuant to exemption contemplated under Regulation 10(1)(a)(i) and (ii) of SEBI (SAST) Regulations, 2011 subject to applicable conditions.
- Target Company: Inducto Steel Limited, ISIN INE146H01018, Scrip Code 532001, Script Name INDCTST.
- Required Compliance: Prior intimation under Regulation 10(5) of SAST Regulations which is required to be furnished at least four working days prior to the proposed acquisition.
Disclosure Of Non-Compliance
Inadvertent Omission
The promoter has placed on record that the requisite prior intimation contemplated under Regulation 10(5) of the SAST Regulations was inadvertently not submitted prior to the aforesaid transaction. The omission in making the prior intimation was inadvertent. The transaction details are being disclosed now and the applicable post-acquisition disclosures are being submitted for information and records.
Mr. Reniwal has regretted the inadvertent omission and assured that due care will be exercised to ensure timely compliance with applicable disclosure requirements in future. He has requested BSE to take the disclosure on record and disseminate the same in accordance with regulatory requirements.