Prudent Corporate:SEBI Approval for Gift by Promoters to 650 Employees

(First published by Prudent in its Press Release)

Happy to share that we advised and got SEBI approval for one of a kind transaction, wherein Mr. Sanjay Shah, promoter of Prudent Corporate Advisory Services Limited, a listed entity based out of Ahmedabad, intends to gift shares, from his personal holding, worth ~INR 34 Crore to 650 employees, including his driver and household help who have been a part of his 25-year business journey!

This is, indeed, a remarkable gesture of wealth sharing by promoters with their employees and staff!