SEBI grants exemption to six Muthoot family trusts from open offer requirements for indirect acquisition of 50.21% in Muthoot Microfin Limited.
Exemption approved for internal family reorganization involving transfer of Muthoot Fincorp shares to trusts via gift, maintaining 55.47% promoter holding.
Takeover Panel recommended approval as transaction is non-commercial, ensures no change in control, and complies with SEBI Master Circular conditions.
Exemption is valid for one year and subject to compliance with trust deed covenants and annual auditor certification requirements.