NSEDisclosure under SEBI Takeover Regulations3h ago · 25 Sept 2026, 04:03 pm
Disclosure under SEBI Takeover Regulations
IZMO Limited · IZMO
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Dinanath Soni, a promoter of IZMO Limited, has submitted a disclosure under SEBI Takeover Regulations, stating that the transfer of 7,48,128 equity shares from his mother to him could not be completed within the stipulated time due to rejection by the Depository Participant, Anand Rathi Share and Stock Brokers Limited, citing non-submission of documentary proof establishing the relationship between the transferor and the transferee.
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Full Announcement
Dinanath Soni has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Date: September 24, 2026
From:
Dinanath Soni
Person belonging to Promoter Group
izmo Limited
The Manager The Manager Listing Department
Corporate Relationship Department National Stock Exchange of India
BSE Limited Limited
Floor 25, Phiroze Jeejeebhoy Tower Exchange Plaza, 5th Floor
Dalal Street, Mumbai-400001 Plot No. C/1, G Block,
Bandra Kurla Complex,
Bandra(E), Mumbai-400051
BSE Scrip Code: 532341 NSE Symbol: IZMO
Subject: Intimation regarding non-completion of transfer of shares of izmo Limited
within the stipulated time pursuant to prior intimation dated September 11, 2026 filed
under Regulation 10(5) of the SEBI (Substantial Acquisition of Shares and Takeovers)
Regulations, 2011
Dear Sir/Madam,
1. I refer to my prior intimation dated September 11, 2026, filed with your exchange under
Regulation 10(5) of the SEBI (Substantial Acquisition of Shares and Takeovers)
Regulations, 2011 ("SAST Regulations"), regarding the proposed inter-se transfer of
7,48,128 equity shares of izmo Limited, constituting 4.99% of the total paid-up equity
share capital of the Company, from my mother Mrs. Shashi Soni to the undersigned as
gift, being an immediate relative within the meaning of the SEBI SAST Regulations, and
claiming exemption under Regulation 10(1)(a)(ii) thereof.
2. As stated in the said intimation, the proposed transfer was required to be completed
within September 23, 2026.
3. I wish to inform you that the aforesaid transfer of shares could not be completed within
the stipulated time on account of the rejection of the transfer instruction by Depository
Participant of the Transferors (Donors), Anand Rathi Share and Stock Brokers Limited
("DP"), citing non-submission of documentary proof establishing the relationship
between the transferor and the transferee, as required by the DP for processing an off-
market transfer between relatives. Following is the sequence of events involved in the
transactions:
Duly filled and executed Delivery Instruction Slip (DIS) were submitted along with the
original Gift Deed for processing the off-market transfer of shares amongst Promoter-
Promoter Group in the family.
The DIS specifically mentioned the Reason Code as Gift, and the transaction involved
no financial consideration whatsoever. The original Gift Deed, which had already been
submitted clearly recorded the relationship between the Donor (mother) and Donee (son)
and expressly established the nature and intention of the transactions as gift.
Donor has fully cooperated with the verification process and had:
submitted the duly filled and executed original DIS;
submitted and produced the original Gift Deed;
clearly disclosed the relationship between the Donor and Donee in the Gift Deed;
specified Reason Code as Gift in the DIS;
confirmed that the transaction is without financial consideration;
duly provided the documents in the form of PAN, Aadhaar and Passport of the Donor
and Donee to establish the relationship beyond any reasonable doubt;
notice under Regulation 10(5) of Securities and Exchange Board of India
(Substantial Acquisition of Shares and Takeovers) Regulations, 2011 issued by the
Donee to the Stock Exchanges, which has been duly published in public domain;
paid the applicable transaction charges and completed all other formalities as
requested by the DP.
In spite of providing all the aforesaid documents, explanations and urgency in
completing the transactions on 23.09.2026 as per the requirement of SEBI Regulations,
DP have rejected the share transfers stated in the DIS unreasonably.
4. I would like to place on record that:
a. The delay is procedural in nature and not attributable to any lapse in the
underlying transactions or intent of the parties;
b. We are in the process of collating and submitting the requisite
documents/information to the DP, Anand Rathi Share and Stock Brokers Limited,
to enable completion of the transfer at the earliest;
c. The transfers, once effected, shall continue to be reported to the exchange(s) and
to SEBI in terms of the applicable provisions of the SEBI SAST Regulations;
d. In case the DP, Anand Rathi Share and Stock Brokers Limited, fails to appreciate
our submission and continues to hinder the free transferability of shares pursuant
to section 58(2) of the Companies Act, 2013, we will consider an alternative for
completing the share transfers from another Depository Participant, where the
Donor has her Demat Account.
5. This letter is being submitted purely as an intimation of the factual position and the
reasons for the delay, for your records, and does not constitute a fresh application under
Regulation 10(5).
6. I request you to kindly take the above on record.
Thanking you,
Yours faithfully,
Dinanath Soni
Person belonging to Promoter Group
izmo Limited
Enclosures:
Copy of original intimation dated September 11, 2026 under Regulation 10(5); and
Copy of Delivery Instruction Slips provided to the DP.