Saurashtra Cement Limited disclosed that Mehta Family Trust indirectly acquired 9.46% of the company's voting rights through Omna Enterprises LLP on September 24, 2026. This transaction follows a recent similar acquisition via Galaxy Technologies Private Limited, marking a continued consolidation of indirect promoter interests within the Mehta family structure.

The acquisition occurred upon the trust's admission as a partner in Omna Enterprises LLP with a 50.04% profit sharing ratio. Consequently, the trust gained indirect voting rights corresponding to the 1,05,22,431 equity shares held by Omna in Saurashtra Cement. The registered ownership of these shares remains with Omna, ensuring no change in the public or promoter shareholding patterns.

Regulatory Compliance and Exemption

This disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The transaction relied on an exemption granted by SEBI via an order dated July 14, 2026 (Reference No. WTM/KCV/CFD/06/2026-27). The regulatory clearance confirms that this move constitutes an internal reorganization within the Mehta family and does not result in any change in control or management of the target company.

Mr. Jay Mahendra Mehta, Trustee of the Mehta Family Trust, signed the disclosure on September 29, 2026. The filing highlights that while beneficial interest shifted to the trust, the aggregate promoter and promoter group shareholding remains unaffected.

Impact on Shareholding Structure

The new disclosure adds to the existing picture of promoter consolidation. Previously, the trust had acquired 14.57% voting rights via Galaxy Technologies Private Limited on September 22, 2026. With this latest addition, the trust's total indirect voting rights now encompass blocks held by both Galaxy Technologies and Omna Enterprises LLP.

What the Numbers Show

The combined data reveals a systematic consolidation of indirect interests across multiple promoter entities without altering the company's capital structure. Before these transactions, the trust held only 100 equity shares directly. Post-acquisition, the trust holds indirect voting rights over 1,62,15,400 shares via Galaxy Technologies and 1,05,22,431 shares via Omna Enterprises LLP.

Crucially, the total equity share capital of Saurashtra Cement remains unchanged at ₹1,11,28,72,800, consisting of 11,12,87,280 equity shares of ₹10 each. The aggregate promoter and promoter group shareholding remains unaffected, indicating that these moves are purely structural adjustments within the promoter group rather than changes in external ownership dynamics.

Saurashtra Cement has entered into a long-term agreement for 14 MW of wind-solar hybrid power, committing an investment of ₹14.92 crore. The deal involves a Group Captive arrangement to meet the company's power requirements and sustainability objectives.

Agreement structure and parties

The company executed two distinct agreements on September 28, 2026. First, a Power Consumption Agreement was signed with Jamnagar Renewables Two Private Limited (the Power Producer). Second, a Share Purchase & Shareholders' Agreement was entered into with the Power Producer and Continuum Green Energy Limited (the Promoter).

The transaction is structured as a Group Captive Wind-Solar Hybrid arrangement, compliant with Electricity Rules, 2005. The investment takes the form of equity participation rather than a simple power purchase contract.

Key financial and operational terms

The following table outlines the critical parameters of the newly disclosed agreements:

The proposed equity investment of ₹14.92 crore involves purchasing 1,49,22,600 equity shares of Jamnagar Renewables Two Private Limited at a face value of ₹10 each. The tenure of the agreement extends up to 25 years from the actual commencement date, subject to a mandatory lock-in period of 7 years.

Regulatory and compliance details

The disclosure was made under Regulation 30 read with Part B of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the transaction does not fall within the definition of a related party transaction or a material related party transaction.

The total value of the agreement beyond the initial equity investment is not quantified at this stage, as it depends on actual energy consumption and tariffs over the tenure. The agreements are subject to the receipt of applicable statutory approvals.