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TMI BlogGifting of Prudent’s Shares by Promoter Mr. Sanjay Shah from His Personal ShareholdingX X X X Extracts X X X X X X X X Extracts X X X X ..... Gifting of Prudent’s Shares by Promoter Mr. Sanjay Shah from His Personal Shareholding X X X X Extracts X X X X X X X X Extracts X X X X ..... es, amounting to approximately INR 34 Cr (at today’s price), from his personal holdings to a group of approximately 650 individuals. The beneficiaries include employees of the company and its wholly owned subsidiaries, as well as Mr. Shah’s personal staff, such as household help and drivers. This gesture commemorates Mr. Shah’s completion of 25 years in business. The transfer is a gesture of app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reciation and gratitude, with no obligations or retention conditions attached. Mr. Sanjay Shah informed about this decision to the Company and the Company (i.e. Prudent) has taken necessary regulatory approvals, including from the Securities and Exchange Board of India (SEBI). Speaking on the initiative, Mr. Sanjay Shah said, "This is not just a transfer of shares; it is my heartfelt thank you ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to those who have stood with me - not just as employees, but as companions on this journey. Your quiet contributions, loyalty, and belief in our shared vision have been invaluable, forming the foundation of our success. I am truly excited for the wonderful future we will create together." The company remains committed to fostering an inclusive and appreciative corporate culture. Katalyst Adviso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs acted as the advisor to the transaction and seeking relevant approvals from SEBI. The Company will make appropriate disclosures to the stock exchanges including disclosing the list of beneficiaries, in compliance with the SEBI approval prior to execution. Mr. Shah's gesture is truly a landmark, and should set a precedent for meaningful recognition of contribution, including by sharing wealt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h by promoters with their employees and staff.
(Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR PWR X X X X Extracts X X X X X X X X Extracts X X X X
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