Smt. Indira Kailashchandra Nuwal, a Promoter of Solar Industries India Limited, has disposed of her entire holding of 55,68,230 equity shares, representing 6.15% of the paid-up capital. This transaction was an inter-se transfer by way of gift to the Sohan Devi Nand Lal Nuwal Family Trust, which is managed by the family. Following this transfer, Smt. Nuwal holds Nil shares, while the Acquirer Trust now holds the 6.15% stake.
Major Promoter Shareholding Change Announced
Solar Industries India Limited informed the exchanges on March 11, 2026, about a significant transaction involving a Promoter family member. Smt. Indira Kailashchandra Nuwal has completed the disposal of her entire shareholding in the Company.
The details confirm the transfer of 55,68,230 equity shares, which equates to 6.15% of the total paid-up share capital. Post-disposal, Smt. Indira Kailashchandra Nuwal’s resulting shareholding stands at Nil equity shares.
Transaction Mechanism and Rationale
The transaction was executed as an inter-se transfer by way of gift between the Promoter (Transferor) and the Sohan Devi Nand Lal Nuwal Family Trust (the Acquirer). The stated rationale for this internal restructuring is to carry out streamlined succession and welfare planning for the family.
It is noted that the Acquirer Trust had previously received an exemption order from the relevant authorities on March 21, 2025, exempting compliance with certain Takeover Code regulations (Regulation 3 and 4) regarding the direct acquisition of shares.
Holdings Post-Transfer Analysis
This transaction involved the transfer of 6.15% from the Transferor to the Acquirer Trust. The total share capital before and after the transaction remains unchanged at INR 18,09,80,110, corresponding to 9,04,90,055 Equity Shares of Rs.2/- each.
The holding structure of the Promoter/PAC group shows the following major constituents after the transaction:
- Manish Satyanarayan Nuwal: 38.93%
- Kailash Chandra Nuwal: 23.08%
- Sohan Devi Nand Lal Nuwal Family Trust (Acquirer): 6.15%
The transaction date for the receipt of intimation was stated as March 9, 2026.
Source: BSE
