Uni Abex SEBI Exempts Neterwala Family Trust Open Offer

SEBI granted Neterwala Family Trust exemption from open offer obligations for an indirect acquisition of 63.48% stake in Uni Abex Alloy Products.
The acquisition is an internal family reorganization where Feroze D. Neterwala transfers 96.09% of CFA shares to the trust without consideration.
There will be no change in control, management, or the promoter group's aggregate 63.63% shareholding in Uni Abex post-transaction.
The exemption is subject to conditions including annual compliance audits and completion of the acquisition within one year.