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
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Solar Industries India Ltd has filed a disclosure under SEBI Takeover Code Regulation 29(1) regarding an internal family restructuring. Promoters Kailash Chandra Nuwal (23.08%) and Indira Kailashchandra Nuwal (6.15%) have transferred a combined 2,64,51,193 equity shares (29.23%) to the Sohan Devi Nand Lal Nuwal Family Trust by way of gift. The Trust is formed and controlled by the two transferors themselves, who are also the Trustees. SEBI had earlier granted exemption from open offer requirements under Regulation 11(5) via order dated 21st March 2025, as this is a non-commercial, succession-related transfer within the promoter family. After the transfer, total promoter group shareholding remains unchanged at 73.15%, and public shareholding stays at 26.85%.
No impact on overall promoter control or public shareholding — this is purely an internal reshuffle of how the same 29.23% promoter stake is held (from individual names into a Family Trust). Existing shareholders should not expect any change in the company's ownership structure, voting power, or minimum public shareholding compliance.