Shakti Sons Trust reorganizes, acquires indirect stakes in group companies

Shakti Sons Trust has reported to SEBI an indirect acquisition of shares in its unlisted group companies, as part of an internal promoter group realignment. This transaction, executed through a gift without consideration, was exempted under Regulation 11 of the SAST Regulations by SEBI on September 10, 2024.

The realignment resulted in an indirect acquisition of 2.96% equity shares in Shakti Pumps (India) Limited through Vintex Tools & Machineries Private Limited, which holds 3.95% in the target company. Additionally, an indirect acquisition of approximately 2.34% equity shares in Shakti Pumps (India) Limited occurred through Shakti Irrigation India Limited, which holds 4.53% equity in the target company.

This restructuring aims to ensure long-term continuity of control within the promoter family and protect public shareholders' interests, with no change in the target company's control or management. The trust also confirms compliance with SEBI's guidelines for such family trusts.