Promoter Trust Discloses Indirect Acquisition of 14.57% Voting Rights via Internal Family Reorganisation
Mehta Family Trust (promoter, trustees Mr. Jay Mehta and Juhi Chawla) shared a Reg 29(1) SAST disclosure.
By ScoutQuest · · 1 min read
- Trust Acquisition
- Mehta Family Trust acquired 2,49,999 shares (49.99%) of Galaxy Technologies Pvt Ltd
- Date of Acquisition
- September 22, 2026
- Indirect Voting Rights
- 1,62,15,400 shares = 14.57% of Saurashtra Cement
- Nature
- Internal family reorganisation under SEBI exemption order dated July 14, 2026
- Impact on Control
- No change in share capital, public shareholding or control
What was shared
Mehta Family Trust, held by Mr. Jay Mehta and Juhi Chawla as trustees and part of the promoter group, submitted a disclosure under Regulation 29(1) of the SEBI SAST Regulations.
The transaction
- The Trust acquired 2,49,999 equity shares, representing 49.99% of the equity share capital of Galaxy Technologies Private Limited, from Mr. Jay Mahendra Mehta on September 22, 2026.
- Galaxy holds 1,62,15,400 equity shares of Saurashtra Cement, representing 14.57% of its equity share capital and voting rights.
- Through this, the Trust indirectly acquired voting rights corresponding to that 14.57% stake.
- The Trust also continues to hold 100 equity shares directly in the company.
Capital position
- Equity/voting capital remains INR 1,11,28,72,800, consisting of 11,12,87,280 equity shares of INR 10 each, both before and after the transaction.
- The 1,62,15,400 shares continue to be registered in the name of Galaxy, an existing promoter entity, while the beneficial interest and voting rights stand consolidated in favour of the Trust.
Nature of the step
The acquisition was undertaken pursuant to an exemption granted by SEBI by order dated July 14, 2026. It forms part of an internal reorganisation within the Mehta family. As recorded in the update, it does not alter the issued share capital, public shareholding or aggregate promoter and promoter group shareholding, and does not result in any change in control or management of the company.
How investors may read it
This is a shareholding-structure disclosure within the promoter family rather than a fresh purchase from the market. Total promoter and public shareholding levels stay the same.
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 of Galaxy acquired2,49,999 equity shares
- Stake in Galaxy acquired49.99%
- Voting rights indirectly acquired in target14.57%
- Shares of target held by Galaxy1,62,15,400 equity shares
- Shares held directly by the Trust100 equity shares
- Equity/voting capital of targetINR 1,11,28,72,800
- Total equity shares of target11,12,87,280
- Face value per shareINR 10
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