Sakthi Sugars Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
SAKHTISUG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ABT Investments (India) Private Limited has transferred 1,68,60,000 equity shares to Dr. M. Manickam, Chairman and Managing Director. Following this transfer, ABT Investments' stake in Sakthi Sugars dropped from 55.93% to 41.75%. As a result, ABT Investments has ceased to be the Holding Company of Sakthi Sugars, and the company has now become an Associate Company of ABT Investments. This transfer was disclosed under Regulation 10(6) of SEBI SAST Regulations, 2011.
Dr. M. Manickam has significantly increased his stake in the company through this share transfer. With ABT Investments falling below 50% holding, the corporate structure has changed materially, which could signal greater direct promoter control going forward.