M. Manickam has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
SAKHTISUG · price
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M. Manickam, a promoter of Sakthi Sugars Limited, is acquiring 1,68,60,000 equity shares (14.18%) from ABT Investments (India) Private Limited at Rs. 15.96 per share. This is an inter se transfer among the promoter and promoter group company. Post-transaction, M. Manickam's holding increases from 1.61% to 15.79%, while ABT Investments' holding decreases from 55.93% to 41.75%. The total promoter and promoter group shareholding remains unchanged at the same aggregate level. The acquisition is exempt from open offer requirements under Regulation 10(1)(a)(ii) as the parties have complied with disclosure requirements for more than three years prior to the proposed transfer.
This is a restructuring of promoter holdings with no change in overall promoter group stake. Individual promoters' stakes shift significantly, which could signal consolidation of promoter holding within specific entities or family members. The stock may see mild reaction if investors view this as a precursor to further changes in promoter structure.