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Sebi exempts DKJ Ownership Trust from open offer for S Chand stake
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News18•12-10-2026, 22:45
Sebi exempts DKJ Ownership Trust from open offer for S Chand stake
- •Capital markets regulator Sebi exempted DKJ Ownership Trust from making an open offer to acquire a 19.85 per cent stake in S Chand and Company.
- •The shares will be acquired from promoter Neerja Jhunjhnuwala as part of an internal restructuring for succession planning.
- •Following the transfer, Neerja Jhunjhnuwala's shareholding will drop to 2.84 per cent while the aggregate promoter group shareholding remains unchanged at 46.99 per cent.
- •Sebi noted that the transaction is non-commercial, does not prejudice public shareholders, and involves no change in company control.
- •The exemption is subject to conditions including completing the transaction within one year and filing a compliance report within 21 days.
Key Questions Answered
Sebi exempted the trust because the transaction is an internal restructuring intended to streamline promoter holdings and facilitate succession planning, remaining non-commercial and not prejudicing public shareholders.
The trust will acquire a 19.85 per cent stake, consisting of 70 lakh shares, from promoter Neerja Jhunjhnuwala.
The trust must complete the proposed transaction within one year of the order and file a report with Sebi within 21 days of completing the acquisition.
