Promoter M. Manickam acquires 1.69cr shares in Sakthi Sugars
Promoter M. Manickam acquired 1,68,60,000 shares of Sakthi Sugars Limited from ABT Investments (India) Private Limited for ₹26,90,85,600. The inter se transfer, executed on May 4, 2026, increased Manickam's holding to 15.79% while the total promoter group shareholding remained constant at 59.83%. The transaction was completed under SEBI Takeover Code Regulation 10(1)(a)(ii) exemption.
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M. Manickam, a promoter of Sakthi Sugars Limited , has disclosed the acquisition of 1,68,60,000 equity shares via an inter se transfer. The transaction, which took place on May 4, 2026, involved the purchase of shares from ABT Investments (India) Private Limited, another entity within the promoter group.
The acquisition was conducted at a price of ₹15.96 per share, resulting in a total consideration of ₹26,90,85,600. This transfer was executed in accordance with the exemption provided under Regulation 10(1)(a)(ii) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The regulation allows for inter se transfers among promoters and promoter group companies without triggering an open offer, provided specific conditions are met.
Shareholding Details
The disclosure outlines the changes in shareholding for both the acquirer and the seller as a result of this transaction. The acquisition has increased M. Manickam's direct stake in the company, while the aggregate shareholding of the promoter and promoter group remains unchanged.
| Shareholder | Shares Before Acquisition | % Before Acquisition | Shares After Acquisition | % After Acquisition |
|---|---|---|---|---|
| M. Manickam | 19,14,200 | 1.61 | 1,87,74,200 | 15.79 |
| ABT Investments (India) Pvt Ltd | 6,64,73,540 | 55.93 | 4,96,13,540 | 41.75 |
| Promoter and Promoter Group Total | 7,11,13,177 | 59.83 | 7,11,13,177 | 59.83 |
Regulatory Compliance
Prior intimation regarding this proposed acquisition was submitted to the stock exchanges on April 17, 2026, in compliance with Regulation 10(5) of the SEBI Takeover Code. Subsequently, the necessary disclosures under Regulation 10(6) and Regulation 10(7) were filed on May 5, 2026, and May 14, 2026, respectively. The acquirer confirmed that the transfer price does not exceed the volume-weighted average market price (VWAP) by more than 25%, calculated over the 60 trading days preceding the notice. The regulatory fee for the transaction was remitted to SEBI.
Historical Stock Returns for Sakthi Sugars
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.29% | -2.22% | -3.24% | -9.65% | -30.34% | +43.76% |
Will M. Manickam's significantly increased direct stake of 15.79% lead to any changes in the board composition or strategic direction of Sakthi Sugars Limited?
Could ABT Investments (India) Private Limited's reduced stake from 55.93% to 41.75% signal a broader restructuring of the promoter group's holding structure in Sakthi Sugars?
How might this consolidation of shares under M. Manickam's direct ownership impact minority shareholders' confidence and the stock's liquidity on the exchanges?
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