Indirect Acquisition of 14.57% Voting Rights by Mehta Family Trust via Inter-se Transfer
Mehta Family Trust (promoter) has indirectly acquired voting rights over 1,62,15,400 shares (14.57%) of the company, held via Galaxy Technologies, under a SEBI exemption order dated 14 July 2026.
By ScoutQuest · · 2 min read
- Voting Rights Acquired
- 1,62,15,400 shares (14.57%)
- Acquiring Entity
- Mehta Family Trust (promoter)
- Shares Registered In
- Galaxy Technologies Private Limited
- SEBI Exemption Order Date
- 14 July 2026
- Change in Total Shareholding
- No change in aggregate promoter and public shareholding
What happened
The company has passed on disclosures received from Mehta Family Trust (the acquirer) and Mr. Jay Mehta (promoter/transferor) relating to an indirect acquisition of voting rights in Saurashtra Cement Limited.
- Shares involved: 1,62,15,400 equity shares, being 14.57% of the equity share capital and voting rights.
- These shares continue to be registered in the name of Galaxy Technologies Private Limited, an existing promoter group entity.
- The indirect beneficial interest and corresponding voting rights in those shares now stand consolidated in favour of Mehta Family Trust.
- The trust also continues to hold 100 equity shares directly.
- Mode: inter-se transfer, pursuant to a SEBI exemption order dated 14 July 2026.
Why it was allowed
SEBI passed an order under the SAST Regulations, 2011 granting exemption from the open offer requirement of Regulation 3(2) read with Regulation 5, on an application made by Mr. Jay Mahendra Mehta as trustee of Mehta Family Trust. The updates describe the step as an internal reorganisation within the family.
Capital structure context
The issued and paid-up capital is INR 1,11,28,72,800/-, divided into 11,12,87,280 equity shares of INR 10/- each. As per the shareholding pattern for the quarter ended March 2026, total promoter and promoter group holding was 66.62% (7,41,40,412 shares) and public shareholding was 33.38% (3,71,46,868 shares).
What it means for shareholders
- There is no change in the share capital, aggregate voting rights, or the aggregate promoter and promoter group or public shareholding of the company.
- Mr. Jay Mehta's direct holding of 43,730 shares (0.04%) is shown unchanged in the disposal disclosure; the change relates to the indirectly held voting rights.
- No derivatives transactions were reported in these disclosures.
This is a shareholding-structure disclosure rather than a business or earnings event; it reorganises how promoter voting rights are held within the family group.
Also from Saurashtra Cement
Board meeting on 4 November 2026 to consider and approve Q2 and half year un-audited results
22 Oct 2026
Board approves appointment of Anurag Tiwari as Managing Director – Designate, Senior Management Personnel
12 Oct 2026
Board approves Anurag Tiwari as Managing Director – Designate, effective 16 October 2026
12 Oct 2026
More numbers
- Shares indirectly acquired1,62,15,400
- Stake represented14.57%
- Shares held directly by trust100
- Issued and paid-up share capitalINR 1,11,28,72,800/-
- Total equity shares11,12,87,280
- Face value per shareINR 10/-
- Total promoter shareholding66.62
- Promoter shares7,41,40,412
- Public shareholding33.38
- Public shares3,71,46,868
- Jay Mehta direct holding43,730
- Jay Mehta direct holding %0.04%
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