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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Promoter Indira Kailashchandra Nuwal has transferred 55,68,230 equity shares (6.15% of total equity capital) to the Sohan Devi Nand Lal Nuwal Family Trust by way of gift on 9th March 2026. The trust, whose trustees and beneficiaries are all promoters or their lineal descendants, will be included in the promoter group. SEBI had already granted exemption from open offer requirements under Regulations 3(1) and 4 of the Takeover Code via its order dated 21st March 2025. After the transfer, Indira Kailashchandra Nuwal's personal holding drops to zero, while the Trust will hold 6.15%. Total promoter group shareholding remains unchanged at 73.15%, and public shareholding stays at 26.85%.
This is a purely internal family reorganization with no change in total promoter holding, control, or public shareholding — hence functionally neutral for the stock. It signals succession planning by the promoter family, which is generally viewed as a positive governance step for long-term continuity.