Jayant Davar 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.
SANDHAR · price
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Promoter Jayant Davar is transferring 26,22,930 shares (4.36% of share capital) of Sandhar Technologies to Cream & Cookies Family Trust by way of gift, with no consideration involved. The trust, set up for succession planning of the Davar family, will become part of the promoter group after the transfer. Additionally, there will be an indirect acquisition of shares held by Jayant Davar in other promoter group entities. SEBI has granted exemption under Regulation 11(5) from the requirement to make an open offer. After the transaction, Jayant Davar's direct holding will reduce from 54.92% to 50.56%, while the trust will hold 4.36%. The acquisition is scheduled for on or after August 29, 2025.
This is an internal promoter group restructuring for succession planning, not a change in ultimate promoter control. Total promoter group holdings remain effectively the same, so there is no material impact on shareholders or stock price from a corporate control perspective.