Key Transaction Details

  • Transferor: Mr. Feroze Dhunjishaw Neterwala (Promoter) through Chemicals and Ferro Alloys Private Limited
  • Acquirer: Neterwala Family Trust
  • Shares Transferred: 12,53,852 equity shares representing 63.48% of total share capital
  • Transaction Type: Inter-se transfer by virtue of SEBI exemption order
  • Effective Date: 18th June, 2026
  • Intimation Date: 22nd June, 2026

Shareholding Structure Details

Pre-Transaction Holding Breakdown:

  • Chemicals and Ferro Alloys Private Limited: 4,31,550 shares (21.85%)
  • Unitel Finance and Investments Private Limited: 8,17,500 shares (41.39%)
  • S.D.N. Company (Partnership Firm): 4,802 shares (0.24%) held through Mr. Feroze D. Neterwala as partner

Individual Holding of Mr. Feroze D. Neterwala:

  • Total: 4,927 equity shares (0.25%)
  • 4,802 shares (0.24%) held on behalf of S.D.N. Company in capacity as partner
  • 125 shares (0.01%) held in individual capacity

SEBI Exemption Order Reference

  • Order Number: WTM/KCV/CFD/02/2026-27
  • Order Date: 18th May, 2026
  • Issued by: Kamlesh Chandra Varshney, Whole Time Member, SEBI
  • Validity Period: 1 year from order date (until 17th May, 2027)

Financial Impact

  • No change in total equity share capital of the Target Company
  • No change in aggregate promoter/public shareholding
  • No consideration involved in the transfer
  • The shares continue to be registered in the names of existing promoter-group entities while indirect beneficial interest and voting rights stand consolidated in favor of Neterwala Family Trust

Trust Structure Details

Neterwala Family Trust:

  • Settlor: Feroze D. Neterwala
  • Trustees: Feroze D. Neterwala, Phirosa F. Neterwala
  • Beneficiaries: Feroze D. Neterwala, Phirosa F. Neterwala, Anosh Neterwala, Sheena S. Lakhiani, Shirin Malkani, Freeyan Feroze Neterwala, and lineal descendants
  • Trust Type: Irrevocable, discretionary private trust established under Indian Trusts Act, 1882

Conditions of Exemption

The exemption is subject to compliance with:

  • Companies Act, 2013 and other applicable laws
  • SEBI Circular No. SEBI/HO/CFD/PoD-1/P/CIR/2023/31 dated February 16, 2023 (Chapter 8 Guidelines)
  • Requirement to file completion report to SEBI within 21 days of acquisition
  • Annual compliance certification by independent auditor
  • Disclosure of any changes in trustees/beneficiaries within 2 days to stock exchanges

No Derivatives Trading

No trading in derivatives on the company's securities was reported by any of the involved parties.