The Exchange has received the disclosure under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
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SST Private Family Trust, a promoter entity of Lactose (India) Limited, is set to acquire 5,75,184 shares (4.57% of share capital) from Madhusha Lifecare Private Limited, another promoter group entity. The transaction price is fixed at Rs. 61 per share, well below the 60-day VWAP of Rs. 120.91, and is exempt from the open offer requirement as it is an inter-se transfer within the promoter group. Post-transaction, SST Private Family Trust's stake will rise from 5.96% to 10.53%, crossing the 10% disclosure threshold, while Madhusha Lifecare will exit entirely. The acquisition is expected to be completed on or after December 17, 2025.
Since this is an internal reshuffle within the promoter group, total promoter shareholding in Lactose (India) remains unchanged — no open offer trigger for minority shareholders and no change in control. The acquisition price of Rs. 61 is significantly lower than the recent market price of Rs. 120.91, which may raise questions about valuation but is permitted under the SEBI exemption framework for inter-se transfers.