Promoter Kailash Chandra Nuwal conducted a massive disposal of 2,08,82,963 equity shares, representing 23.08% of the paid-up capital of Solar Industries India Limited. This transaction was executed as an inter-se transfer by way of gift to the Sohan Devi Nand Lal Nuwal Family Trust (the Acquirer). Following the disposal dated March 9, 2026, Mr. Nuwal will hold Nil equity shares in the company.
Significant Promoter Share Transfer Announced
Solar Industries India Limited has disclosed a major change in its promoter shareholding structure. An intimation was received from Promoter, Shri Kailash Chandra Nuwal, regarding the disposal of 2,08,82,963 equity shares. This block of shares constitutes 23.08% of the total paid-up share capital of the company.
The transaction, which took place on March 9, 2026, was classified as an inter-se transfer by way of gift. The transferor, Shri Kailash Chandra Nuwal, gifted these shares to the Sohan Devi Nand Lal Nuwal Family Trust (the Acquirer). The disclosure notes that the transferor and the trustees of the Acquirer are related parties, facilitating a streamlined succession and welfare plan for the family.
Post-Transaction Shareholding Status
A key outcome of this transfer is that upon completion of the disposal, Shri Kailash Chandra Nuwal will hold Nil equity shares in Solar Industries India Limited. Conversely, the Acquirer, Sohan Devi Nand Lal Nuwal Family Trust, will acquire 2,08,82,963 shares, representing a 23.08% stake post-acquisition.
Holding Before and After the Transfer
The disclosure table provides a detailed snapshot of the existing holdings among the promoter group members before the transaction:
- Manish Satyanarayan Nuwal held 3,52,32,069 shares (38.93%).
- Kailash Chandra Nuwal (Transferor) held 2,08,82,963 shares (23.08%).
- Indira Kailashchandra Nuwal held 55,68,230 shares (6.15%).
After the transfer, the holding of Shri Nuwal becomes zero, and the Trust assumes the 23.08% stake. The total share capital and total diluted share capital of the Target Company (TC) remain unchanged at INR 18,09,80,110, comprising 9,04,90,055 Equity Shares of Rs.2/- each, both before and after the acquisition.
Exemption Basis for Transfer
This acquisition was executed pursuant to an exemption order granted by the relevant authority via an order dated March 21, 2025. This exemption provided relief from compliance with specific regulations concerning substantial acquisition, allowing the smooth execution of the internal family transfer.
Source: BSE
