The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sohan Devi Nand Lal Nuwal Family Trust & PACs
SOLARINDS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sohan Devi Nand Lal Nuwal Family Trust acquired 2,64,51,193 equity shares (29.23%) of Solar Industries India Ltd from promoters Kailash Chandra Nuwal (23.08%) and Indira Kailashchandra Nuwal (6.15%) by way of gift on 9th March 2026. SEBI had granted an exemption under Regulation 11(5) of the Takeover Code via its order dated 21st March 2025, allowing this transfer without triggering open offer obligations. The two transferors are themselves the settlors and trustees of the Family Trust, and the Trust will now be included as part of the promoter group. Total promoter group holding remains unchanged at 73.15% both before and after the transaction. The transfer is described as part of streamlined succession and family welfare planning.
This is an internal family restructuring, not a market transaction, so there is no change in actual control or total promoter ownership. Shareholders should note that a large block of shares (29.23%) has moved into a family trust structure, which may affect how future decisions about those shares are made, but the overall promoter grip on the company stays the same.