The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sohan Devi Nand Lal Nuwal Family Trust & PACs
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On the reaction day the stock moved 0.1 pts more than Nifty 100 and 1.1 pts less than its Chemicals & Petrochemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Promoter Kailash Chandra Nuwal has transferred 2,08,82,963 equity shares (23.08% of the company) to the Sohan Devi Nand Lal Nuwal Family Trust by way of gift, as part of family succession and welfare planning. The transaction was carried out on 9th March 2026 under a pre-clearance approval dated 4th March 2026, and SEBI had earlier granted an exemption (via order dated 21st March 2025) from making an open offer under the Takeover Code. After the transfer, Kailash Chandra Nuwal's individual holding drops to 0%, while the Trust (now classified as a promoter) will hold the 23.08% stake. Total promoter group shareholding remains unchanged at 73.15%, and there is no change in control or public shareholding.
This is a non-commercial, internal succession transfer within the promoter family — no change in total promoter control or public shareholding, so the stock is unlikely to see any material impact. However, the individual promoter Kailash Chandra Nuwal has fully exited his direct holding, with the stake now held via a family trust.