The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Cream & Cookies Family Trust
SANDHAR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Promoter Mr. Jayant Davar is transferring 26,22,930 shares (4.36% of diluted share capital) of Sandhar Technologies to the Cream & Cookies Family Trust without any consideration (as a gift). The trust has been set up as a private family trust for succession planning of the Davar family. SEBI has granted exemption under Regulation 11(5) of SAST Regulations via order dated April 30, 2025. Post-transfer, Mr. Jayant Davar's direct holding will drop from 54.92% to 50.56%, while the trust will hold 4.36%. Additionally, Mr. Davar's stakes in promoter group entities (Sanjeevni Impex, YSG Estates, Sandhar Estates, and Jubin Finance) are also being transferred to the trust.
This is an internal promoter-group restructuring with no change in overall control, since the trust remains part of the promoter group. Existing shareholders are not affected as there is no change in the ultimate promoter control (combined holding stays at ~54.92%). Likely neutral to mildly positive signal, as succession planning provides clarity on future control.