The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Haridas Kanani Family Trust & H T Kanani Family Trust
NEOGEN · price
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Haridas Thakarshi Kanani, Promoter and Chairman Emeritus of Neogen Chemicals, transferred 57,78,500 equity shares (21.90% of paid-up capital) to two family trusts on December 31, 2025, by way of an off-market gift. Specifically, 52,76,500 shares (20%) went to Haridas Kanani Family Trust and 5,02,000 shares (1.90%) went to H T Kanani Family Trust. After the transfer, Haridas Kanani's personal holding dropped from 23.33% (61,53,887 shares) to just 1.42% (3,75,387 shares). The aggregate promoter and promoter group holding remains unchanged at 23.33%, as both trusts will now be classified as promoter group shareholders. SEBI granted an exemption under Regulation 11(5) of the SAST Regulations via order dated December 30, 2025, to allow this inter-se transfer without triggering open offer obligations.
This is a internal family restructuring with no change in total promoter ownership, so there is no impact on aggregate promoter control or shareholder voting power. Existing shareholders need not worry about any open offer trigger; the transfer is purely an estate/succession planning move within the Kanani family.