Lhochhar Trust indirectly acquires voting rights of promoter's 31.31% stake via testamentary transmission
Lhochhar Trust, through its trustee Orbis Consulting AG, Zurich, has acquired the shares of Sandridge Investments Ltd's holding company, pursuant to a testamentary transmission.
By ScoutQuest · · 2 min read
- Promoter stake held by Sandridge Investments Ltd
- 6,20,02,455 equity shares, or 31.31% of the company
- Shareholding pre- and post-transaction
- 6,20,02,455 shares, or 31.31% (unchanged)
- Date of indirect acquisition
- 12 October 2026
What was disclosed
Indo Count Industries Ltd has shared a disclosure under Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure is made by Lhochhar Trust, through its trustee Orbis Consulting AG, Zurich, as the Acquirer.
- Sandridge Investments Ltd, a promoter of Indo Count Industries Ltd, holds 6,20,02,455 equity shares of the company.
- That holding represents 31.31% of the company's equity share capital.
- The shares of Sandridge's holding company have been acquired by the Acquirer (through its trustee) pursuant to a testamentary transmission.
- Consequently, the Acquirer has indirectly acquired the voting rights associated with Sandridge's shareholding.
Shareholding position as set out in the disclosure
- Pre-transaction, the transferor or seller held 6,20,02,455 shares, or 31.31% of the total share capital of the target company.
- Post-transaction, the Acquirer or transferee holds 6,20,02,455 shares, or 31.31% of the total share capital of the target company.
- Against the transferor or seller in the post-transaction column, the entry shown is a dash (-).
On direct transfer of shares
No equity shares of Indo Count Industries Ltd have been directly transferred pursuant to this transmission. Sandridge's shareholding in the company therefore remains unchanged at 31.31%.
Date of the indirect acquisition
The disclosure states the indirect acquisition as having taken place on 12 October 2026.
Exemption relied upon
The Acquirer has relied on Regulation 10(1)(g) of the Takeover Regulations, under which the acquisition is exempt from making an open offer.
What this means in simple terms
This is a change at the level of the holding company of a promoter entity, not a sale or purchase of Indo Count Industries Ltd shares in the market. The number of shares held by the promoter entity in the company is the same before and after, and so is its percentage holding. What the update records is who indirectly holds the voting rights attached to that promoter stake.
Also from Indo Count Industries
Indo Count Industries Ltd shareholder buys 31.31% stake
14 Oct 2026
Indo Count to host in-person analyst/investor plant visit in Maharashtra on 5 October 2026
29 Sep 2026
More numbers
- Shares held by Sandridge Investments Ltd (promoter)6,20,02,455
- Sandridge's stake in the company's equity share capital31.31%
- Pre-transaction shares held by transferor/seller6,20,02,455
- Pre-transaction stake of transferor/seller31.31
- Post-transaction shares held by Acquirer/Transferee6,20,02,455
- Post-transaction stake of Acquirer/Transferee31.31
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