ALAllcargo Logistics532749Promoter stake buy

SEBI exempts Shashi Kiran Shetty Family Trust from open offer for proposed 34.41% acquisition

SEBI has granted Shashi Kiran Shetty Family Trust an exemption from the open-offer requirements under Regulations 3 and 4 of the SAST Regulations, 2011.

By ScoutQuest · Thu 15 Oct 2026, 2:44 PM IST · 3 min read

Proposed Acquisition

up to 51,54,24,268 equity shares, or 34.41% of the paid-up capital

SEBI Order Date

October 14, 2026

Promoter and Promoter Group Holding

60,33,69,203 shares, or 40.28%, as on June 30, 2026

What SEBI has done

The company has informed the exchanges that SEBI, vide an order dated October 14, 2026, has granted an exemption to Shashi Kiran Shetty Family Trust (the Acquirer Trust) from complying with Regulations 3 and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

These regulations deal with substantial acquisition of shares or voting rights and acquisition of control, and normally require a public announcement of an open offer. The update states that the exemption granted is limited to these open-offer requirements, and is subject to the terms and conditions specified in the order.

The proposed acquisition

• The Acquirer Trust proposes to acquire up to 51,54,24,268 equity shares of the company from Mr. Shashi Kiran Janardhan Shetty, a promoter.
• This represents 34.41% of the total paid-up equity share capital of the company.
• The update describes the proposed transaction as an internal reorganisation of shareholding within the promoter and promoter group for family succession planning.

Share capital and shareholding

• The issued and paid-up share capital of the company is INR 299.56 crore, divided into 1,49,77,78,469 equity shares.
• Promoter and promoter group holding, as on June 30, 2026, is 60,33,69,203 shares, or 40.28%.
• Public shareholding is 89,44,09,266 shares, or 59.72%.

What the update says will not change

• No change in ultimate beneficial ownership, economic interest, voting control or control of the company.
• The aggregate shareholding of the promoters and promoter group will remain unchanged.
• Public shareholding will remain unchanged.
• There will be no alteration in the total equity share capital of the company as a result of the proposed acquisition.
• The transaction is described as non-commercial in nature, involving no cash consideration, and intended solely for internal restructuring and succession planning.

Why the exemption was sought

The grounds recorded are bona fide succession planning and estate consolidation within the promoter family, with the objective of orderly management, continuity and long-term stability of the promoter shareholding. The trustees and beneficiaries of the trust are stated to be exclusively existing promoters, members of the promoter group or their lineal descendants, with no third-party participation.

Conditions and safeguards noted

The order records that the Acquirer Trust is a private, irrevocable, discretionary family trust settled by a promoter for the benefit of his immediate relatives and lineal descendants, and that it will form part of the promoter group. The update notes compliance with the conditions, safeguards and undertakings set out in SEBI's Master Circular, including trust deed clauses that:

• the trust is in substance a mirror image of the promoters' holdings, with no change of ownership or control of the shares or voting rights;
• only individual promoters or their immediate relatives or lineal descendants are trustees and beneficiaries;
• the beneficial interest of the beneficiaries is not to be transferred, assigned or encumbered in any manner;
• on dissolution of the trust, assets go only to the beneficiaries or their legal heirs;
• any change in trustees or beneficiaries, or in ownership or control of shares or voting rights held by the trust, is to be disclosed to the stock exchanges with a copy to SEBI;
• the trust is to confirm compliance annually and get its compliance status certified by an independent auditor annually.

What this means in simple terms

This is a change in how the same promoter shares are held, from an individual promoter to a family trust, rather than a change in who effectively owns or controls the company. The update states that the promoter group's total holding and the public shareholding remain the same before and after the proposed acquisition.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

About ScoutQuest · Logos provided by Logo.dev