Date: October 15, 2026

Board Meeting Outcomes

  • SEBI has granted exemption to Shashi Kiran Shetty Family Trust from complying with Regulations 3 and 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • The exemption allows the Trust to acquire up to 51,54,24,268 equity shares of Allcargo Logistics Limited, representing 34.41% of total paid-up equity share capital
  • The transaction is approved as an internal reorganization for family succession planning

Ownership & Strategic Disclosures

Proposed Transaction Details:

  • Acquirer: Shashi Kiran Shetty Family Trust
  • Number of shares to be acquired: 51,54,24,268 equity shares
  • Percentage of paid-up capital: 34.41%
  • Transferor: Shashi Kiran Janardhan Shetty (individual promoter)
  • Nature of transaction: Non-commercial, inter-se transfer within promoter group

Shareholding Impact:

  • Pre-transaction promoter holding: 60,33,69,203 shares (40.28%)
  • Post-transaction promoter holding: Remains unchanged at 60,33,69,203 shares (40.28%)
  • Public shareholding: Remains unchanged at 89,44,09,266 shares (59.72%)
  • No change in ultimate beneficial ownership, economic interest, or voting control

Trust Details:

  • Trust settled by Shashi Kiran Janardhan Shetty on January 18, 2022
  • Trustees and beneficiaries comprise exclusively existing promoters and their lineal descendants
  • No third party has any direct or indirect interest in the Family Trust

Regulation, Compliance & Legal

SEBI Order Details:

  • Order number: WTM/KCV/CFD/13/2026-27
  • Date: October 14, 2026
  • Authority: Kamlesh Chandra Varshney, Whole Time Member, SEBI
  • Exemption granted under Regulation 11(5) of SAST Regulations, 2011

Conditions of Exemption:

1. Transaction must comply with Companies Act, 2013 and other applicable laws

2. Acquirer Trust must file completion report with SEBI within 21 days of acquisition

3. All statements in application must remain true and correct

4. Full compliance with SEBI Master Circular SEBI/HO/CFD/PoD-1/P/CIR/2023/31 dated February 16, 2023

5. Trust deed covenants must not contradict exemption conditions

6. Annual compliance certification required from independent auditor

7. Exemption valid for one year from October 14, 2026

Trust Deed Requirements:

  • Trust must be mirror image of promoters' holdings
  • Only promoters/immediate relatives/lineal descendants as trustees/beneficiaries
  • No transfer/assignment/encumbrance of beneficial interest
  • Assets distribution only to beneficiaries/legal heirs upon dissolution
  • No delegation of trustee powers to outsiders
  • Timely disclosure of any changes in trustees/beneficiaries

Background Information

Company Details:

  • Allcargo Logistics Limited incorporated on August 18, 1993
  • Shares listed on BSE and NSE
  • Total paid-up equity share capital: 1,49,77,78,469 shares of ₹2/- each

Application Timeline:

  • Initial application: March 19, 2026
  • Addendum: September 07, 2026
  • Corrigendum and Addendum: September 30, 2026