Media firm DB Corp said today it is consolidating promoter and promoter group holding in the company through inter-se transfers between various members.
"The persons from whom the shares of DB Corp are intended to be acquired forms part of the Promoter/Promoter Group of DB Corp," DB Corp said in multiple filings to the BSE.
It added that the rationale for the proposed transfer is "consolidation of Promoter/Promoter Group holding through inter-se transfer between members of the Promoter/Promoter Group".
DB Consolidated (formerly known as Peacock Trading and Investment) intends to acquire 5.91 crore from various entities, including Pawan Agarwal, Sudhir Agarwal and Girish Agarwal.
Another filing by the company said DB Consolidated intended to acquire an additional 1.21 crore equity shares from Bhaskar Infrastructure.
"The shares are being transferred by way of gift. Accordingly, there is no consideration for the transfer," the filing added.
In a separate filing, the company said Stitex Global Ltd -- part of the Promoter/Promoter Group of DB Corp -- intends to acquire 73.16 lakh shares from Devaswar Trading and Tushti Trading. These shares are being transferred by way of gift as well.
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