Solar Industries India Limited has disclosed a significant shareholding change involving the Sohan Devi Nand Lal Nuwal Family Trust. The Trust acquired 2,64,51,193 equity shares, representing 29.23% of the paid-up capital, through an inter-se transfer from Promoters Shri Kailash Chandra Nuwal and Smt. Indira Kailashchandra Nuwal. This transaction, dated March 9, 2026, was executed under a specific SEBI exemption order, resulting in the Trust being classified as part of the Promoter group.
Insider Share Transfer Confirmed
Solar Industries India Limited has formally informed the stock exchanges regarding the acquisition of a substantial stake by the Sohan Devi Nand Lal Nuwal Family Trust (the Acquirer). This acquisition involves 2,64,51,193 equity shares, equating to 29.23% of the company’s total equity share capital, as announced on March 11, 2026.
Details of the Acquisition
The transaction was recorded as an inter-se transfer occurring on 9th March 2026. The shares were transferred from two existing Promoters: Kailash Chandra Nuwal (transferring 2,08,82,963 shares, or 23.08%) and Indira Kailashchandra Nuwal (transferring 55,68,230 shares, or 6.15%).
Crucially, the report notes that the transferors (Kailash Chandra Nuwal and Indira Kailashchandra Nuwal) are the settlors and trustees of the acquiring Sohan Devi Nand Lal Nuwal Family Trust. Consequently, the Acquirer will now also be included as part of the Promoter group of the Target Company.
Pre-Acquisition Shareholding Context
Prior to this acquisition, the combined holding of the acquirer and its Persons Acting in Concert (PACs) within the voting rights structure was 73.15%. The key entities in the existing PAC structure included Manish Satyanarayan Nuwal holding 38.93% of voting rights.
Post-Acquisition Shareholding Position
Following the completion of the transfer, the total holding of the Acquirer (Sohan Devi Nand Lal Nuwal Family Trust) within the voting rights structure stands at 29.23%. The overall holding of the combined group post-acquisition, including existing holdings, rose slightly to 73.15%.
Capital Structure Snapshot
The total equity share capital of Solar Industries India Limited remained unchanged throughout the process, based on the reported figures:
- Before Acquisition: INR 18,09,80,110 (representing 9,04,90,055 Equity Shares of Rs.2/- each).
- After Acquisition: INR 18,09,80,110 (representing 9,04,90,055 Equity Shares of Rs.2/- each).
Regulatory Compliance Basis
This transaction was undertaken in compliance with the provisions of Regulation 29(1) of the relevant regulations. The acquisition was permissible due to an exemption granted by the Securities and Exchange Board of India (SEBI) under Regulation 11(5) via an order dated 21st March 2025, which exempted the Acquirer from adhering to Regulations 3 and 4 concerning substantial acquisition and takeover requirements.
Source: BSE
