sebi:WTM/ASB/CFD/9/2024-25

SEBI · SEBI · Ashwani Bhatia, Whole Time Member

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Facts / Headnote

Exemption granted to M. N. Sanghvi Family Trust from complying with regulations 3 and 4 of the Takeover Regulations, 2011 with respect to the proposed acquisition of 3,65,62,649 equity shares (52.16%) of Ratnamani Metals and Tubes Limited by way of gift, subject to conditions; application disposed of.

Provisions invoked

• s. 19
• s. 11(1)
• s. 11(2)

Regulations

• Reg. 3
• Reg. 3(1)
• Reg. 201
• Reg. 31
• Reg. 2(1)(q)(2)
• Reg. 11(5)

Holding

SEBI granted exemption to the M. N. Sanghvi Family Trust from the requirement of making an open offer under regulations 3 and 4 of the Takeover Regulations, 2011 for the proposed acquisition of 52.16% of the equity shares of Ratnamani Metals and Tubes Limited by way of gift from promoters/promoter group members, subject to conditions.

Full text

Exemption Order in the matter of Ratnamani Metals and Tubes Limited Page 2 of 12 3. The Acquirer Trust, vide its Application, has submitted the following:

Exemption Order in the matter of Ratnamani Metals and Tubes Limited Page 3 of 12 3 Reshmidevi P. Sanghvi & Prakash Mishrimal Sanghvi & Jayantilal Mishrimal Sanghvi 23,45,625 3.35% 0.00 0.00% 4 Manoj P. Sanghvi & Dimple M. Sanghvi & Jayanti M. Sanghvi 14,12,899 2.02% 0.00 0.00% 5 Dimple Manoj Sanghvi & Manoj Prakash Sanghvi & Jayanti M. Sanghvi 3,18,750 0.45% 0.00 0.00% 6 Nilesh Prakash Sanghvi & Prakash Mishrimal Sanghvi & Jayanti M. Sanghvi 13,71,332 1.96% 0.00 0.00% 7 Sheetal Nilesh Sanghvi 37,500 0.05% 0.00 0.00% 8 Jigar Prakash Sanghvi & Prakash Mishrimal Sanghvi & Jayanti M. Sanghvi 11,34,480 1.62% 0.00 0.00% 9 Sanghvi Prakashmal Mishrimal (HUF) 23,99,702 3.42% 23,99,702 3.42% 10 Jayantilal Mishrimal Sanghvi & Shobhnadevi Jayantilal Sanghvi & Prakash M. Sanghvi 49,19,761 7.02% 0.00 0.00% 11 Shobhnadevi Jayantilal Sanghvi & Jayantilal Sanghvi & Prakash M. Sanghvi 6,84,622 0.98% 0.00 0.00% 12 Prashant J. Sanghvi & Sarika Prashant Sanghvi & Prakash M. Sanghvi 11,65,110 1.66% 0.00 0.00% 13 Sarika Prashant Sanghvi & Prashant J. Sanghvi & Prakash M. Sanghvi 1,77,411 0.48% 0.00 0.00% 14 Jayantilal M. Sanghvi (HUF) 10,13,207 1.45% 10,13,207 1.45% 15 Shantilal Mishrimal Sanghvi & Shashi Shantilal Sanghvi & Prakash M. Sanghvi 30,27,770 4.32% 0.00 0.00% 16 Shashi Shantilal Sanghvi & Shantilal Mishrimal Sanghvi & Prakash M. Sanghvi 12,57,375 1.79% 0.00 0.00%

Exemption Order in the matter of Ratnamani Metals and Tubes Limited Page 4 of 12 17 Yash Shantilal Sanghvi & Shantilal Mishrimal Sanghvi & Prakash M. Sanghvi 4,68,000 0.67% 0.00 0.00% 18 Sanghvi Shantilal Mishrimal (HUF) 6,93,247 0.99% 6,93,247 0.99% 19 Pawan Kumar Mishrimalji Sanghavi & Vimla P. Sanghvi & Prakash M. Sanghvi 22,42,775 3.20% 0.00 0.00% 20 Vimla Pawan Sanghvi & Pawan Mishrimal Sanghvi & Prakash M. Sanghvi 16,39,747 2.34% 0.00 0.00% 21 Ravi Pawan Sanghvi & Pawan Mishrimal Sanghvi & Prakash M. Sanghvi 8,70,622 1.24% 0.00 0.00% 22 Sanghvi Pawankumar Mishrimal (HUF) 6,93,247 0.99% 6,93,247 0.99% 23 Late Chunilal M. Sanghvi & Arunaben

Source: SecMarx — sebi:WTM/ASB/CFD/9/2024-25. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.