29 thousand equity shares in Banco Products (India) Limited, on March 23, 2026, were sold by Banco Aluminium Private Limited. This marks an inter-se transfer between Banco Aluminium and Mr Mehul Kanubhai Patel, the buyer. After acquiring these stocks, the buyer, along with his Persons Acting in Concert (PACs), is deemed to hold 67.88 per cent of the total equity in the target company.

Activity involving the share transfer

The document highlights a major shift in shareholding concerning the target company, which here is the Banco Products (India) Limited. It confirms the sale of 29 thousand equity shares, each valued at INR 2, with the transaction finalised on March 23, 2026. 

Undertaking the transaction was done via an off-market inter-se transfer, where Banco Aluminium Private Limited served as the seller and Mr Mehul Kanubhai Patel was the buyer.

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What does it mean concerning the shareholding percentage?

The transferred share makes up merely 0.02 per cent of the total paid-up capital of the target company before the transaction took place.

The recent report details that the shareholding structure of the acquirer group after the acquisition includes Mehul Kanubhai Patel and his Persons Acting in Concert (PACs). Altogether, the acquirer group holds 9,70,99,984 shares, which is 67.88 per cent of the total share capital of the target company.

Within this group, Mehul Kanubhai Patel owns 7,95,20,396 shares, translating to 55.59 per cent, while Banco Aluminium Private Limited holds 11,63,660 shares, making up 0.81 per cent. The report further looks into the individual holdings of the PACs, with Mrs Hasumati K. Patel owning 2.07 per cent and Mr Samir K. Patel holding 7.01 per cent.

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The transaction context

The total equity share capital of the target company has stayed the same at 14,30,37,300 equity shares, which adds up to a capital of INR 28,60,74,600, both before and after the specific disposal.

This disclosure was made by Mr Hemendra Chandrakant Patel, the Whole-time Director for the donor, on March 24, 2026. Meanwhile, the acquirer, Mr Mehul Kanubhai Patel, also signed the document on that same date in Dubai.

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