Sanjay Shah, the Chairman and Managing Director of Prudent Corporate Advisory Services, has announced his decision to gift 1.75 lakh equity shares worth ₹34 crore from his personal holdings to a group of approximately 650 individuals. The recipients of this generous gesture include employees of the company as well as his personal staff, such as household help and drivers.
This act of generosity comes as Shah celebrates 25 years in business. It is a gesture of appreciation and gratitude towards those who have been instrumental in the company’s success, with no obligations or retention conditions attached. Shah shared his decision with the company, which has obtained the necessary regulatory approvals, including from SEBI.
In expressing his gratitude, Shah emphasized that this gesture is not merely a transfer of shares, but a heartfelt thank you to those who have supported the company. He commended their contributions, loyalty, and belief in the shared vision that has laid the foundation for the company’s success. Shah expressed his excitement for the future that they will create together.
Katalyst Advisors facilitated the transaction and secured the required approvals from SEBI. The company will ensure compliance with SEBI regulations by making appropriate disclosures to the stock exchanges, including the list of beneficiaries, prior to executing the transfer.
Overall, this act of generosity by Sanjay Shah serves as a testament to his appreciation for the dedication and hard work of the employees and personal staff who have been integral to the success of Prudent Corporate Advisory Services.
