Binny Mills Ltd promoter VR Venkataachalam receives 74,600 shares as gift from son

What Binny Mills Ltd announced

Binny Mills Limited disclosed that one of its promoters, VR Venkataachalam, received 74,600 equity shares as a gift from his son, V Sengutuvan, on 29 June 2026. The transfer was executed off‑market, between promoters, and is reported under Regulation 10(6) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The filing was submitted to the BSE Listing Compliance Department on 1 July 2026.

Details of the inter‑promoter transfer

• Acquirer / Promoter: VR Venkataachalam (promoter of Binny Mills Ltd).
• Transferor / Seller: V Sengutuvan (son of the acquirer, also a promoter).
• Number of shares transferred: 74,600 equity shares.
• Method of acquisition: Gift (no monetary consideration).
• Date of acquisition: 29 June 2026.
• Regulatory exemption: The transaction is exempt from the mandatory open‑offer requirement under Regulation 10(1)(a)(i) and 10(1)(a)(ii) of the SEBI SAST Regulations.

"The above acquisition is through an off‑market inter‑se transfer by way of Gift between the Promoters of the Company." – VR Venkataachalam, filing letter.

Shareholding impact

Why this matters for investors

The transfer does not involve any cash outflow or new issuance of shares; it merely reallocates existing equity among promoters. Consequently, there is no dilution for existing shareholders. However, the increase in Venkataachalam’s stake to approximately 62.5% consolidates control within the promoter group, which may affect future governance decisions, board composition, and strategic direction. The exemption from an open‑offer means that minority shareholders are not entitled to a compulsory purchase offer, keeping the shareholding structure unchanged apart from the internal reallocation.

Conclusion

Binny Mills Ltd has complied with SEBI’s disclosure requirements by filing the inter‑promoter gift of 74,600 shares on 1 July 2026. The transaction raises VR Venkataachalam’s holding to about 62.5% of the diluted share capital, while the overall share count remains unchanged. No further regulatory approvals are pending for this specific transfer, and the company’s public shareholding pattern will reflect the updated promoter holdings in the next statutory filing.