Sakthi Sugars: Inter Se Transfer of 1,68,60,000 Shares Disclosed Under SEBI PIT Regulations 2015

3 min read     Updated on 06 May 2026, 05:05 AM
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Sakthi Sugars Limited disclosed an inter se off-market transfer of 1,68,60,000 equity shares (14.18%) from ABT Investments (India) Private Limited to promoter M. Manickam at Rs.15.96 per share, totalling Rs.26,90,85,600, executed on 4th May 2026. Consequently, ABT Investments' stake fell from 55.93% to 41.75%, causing it to cease as holding company and Sakthi Sugars to be reclassified as its associate. Continual disclosures in Form B were filed by both parties under SEBI (Prohibition of Insider Trading) Regulations, 2015, with no derivative transactions reported.

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Sakthi Sugars Limited has disclosed a significant change in its corporate structure following an inter se transfer of equity shares between its promoter and a promoter group company. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 7(2)(a) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, the company informed BSE Limited and the National Stock Exchange of India Limited that ABT Investments (India) Private Limited has ceased to be its holding company, with Sakthi Sugars now reclassified as an associate company of ABT Investments (India) Private Limited. The disclosures were filed on 5th May 2026 by the Company Secretary, S. Venkatesh.

Transaction Overview

Dr. M. Manickam, Chairman and Managing Director and one of the promoters of Sakthi Sugars Limited, acquired 1,68,60,000 equity shares representing 14.18% of the company from ABT Investments (India) Private Limited, a promoter group company. The transaction was executed on 4th May 2026 through an inter se transfer and off-market transaction at a price of Rs.15.96 per share, amounting to a total consideration of Rs.26,90,85,600. The acquisition was made in reliance upon the exemption provided under Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which exempts inter se transfers amongst promoters and promoter group companies from the obligation to make an open offer.

The key details of the transaction are summarised below:

Parameter: Details
Transaction Date: 4th May 2026
Transaction Type: Inter Se Transfer (Off-Market)
Number of Shares Transferred: 1,68,60,000
Shareholding Transferred (%): 14.18%
Price per Share: Rs.15.96
Total Transaction Value: Rs.26,90,85,600
Acquirer: M. Manickam (Promoter & CMD)
Transferor: ABT Investments (India) Private Limited (Promoter Group)
Exemption Relied Upon: Regulation 10(1)(a)(ii) of SEBI (SAST) Regulations, 2011
Date of Intimation to Company: 5th May 2026

Change in Corporate Structure

Consequent to the transfer of 1,68,60,000 equity shares, the shareholding of ABT Investments (India) Private Limited in Sakthi Sugars Limited reduced from 55.93% to 41.75% of the paid-up equity share capital. As a result of this reduction, ABT Investments (India) Private Limited has ceased to be the holding company of Sakthi Sugars Limited, and Sakthi Sugars Limited has accordingly become an associate company of ABT Investments (India) Private Limited. This structural change was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Change in Shareholding — Acquirer (M. Manickam)

As a result of this acquisition, M. Manickam's shareholding in Sakthi Sugars Limited has changed as follows:

Metric: Pre-Transaction Post-Transaction
Type of Security: Equity Shares Equity Shares
Number of Shares: 19,14,200 1,87,74,200
Shareholding (%): 1.61% 15.79%

Change in Shareholding — Transferor (ABT Investments (India) Private Limited)

ABT Investments (India) Private Limited, formerly known as A B T (Trichy) Private Limited, reported the following change in its holding following the inter se transfer:

Metric: Pre-Transaction Post-Transaction
Type of Security: Equity Shares Equity Shares
Number of Shares: 6,64,73,540 4,96,13,540
Shareholding (%): 55.93% 41.75%

SEBI PIT Regulations — Continual Disclosures (Form B)

Pursuant to Regulation 7(2)(a) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, both M. Manickam and ABT Investments (India) Private Limited submitted separate intimations to the Company Secretary under Regulation 4(1) of the said regulations and filed continual disclosures in Form B with the stock exchanges. M. Manickam, in his intimation, confirmed the acquisition of 1,68,60,000 equity shares at Rs.15.96 each amounting to Rs.26,90,85,600 from ABT Investments (India) Private Limited on 4th May 2026 through an inter se transfer and off-market transaction. ABT Investments (India) Private Limited similarly confirmed the disposal of the same 1,68,60,000 equity shares at Rs.15.96 each amounting to Rs.26,90,85,600 to M. Manickam on 4th May 2026. Both disclosures confirm the trade was executed on NSE and BSE. No derivative transactions were reported by either party in connection with this inter se transfer.

Regulatory Disclosures and Compliance

In terms of Regulation 10(6) of the SEBI Takeover Code, M. Manickam filed a formal report with the stock exchanges confirming the completion of the acquisition. A prior disclosure under Regulation 10(5) was also made and filed with the stock exchanges on 17.04.2026, within the prescribed timeline. The Regulation 10(6) disclosure under the SEBI Takeover Code was filed by M. Manickam directly with the stock exchanges from Coimbatore on 5th May 2026.

Historical Stock Returns for Sakthi Sugars

1 Day5 Days1 Month6 Months1 Year5 Years
-1.58%-7.31%-3.07%-10.13%-24.74%+21.69%

With M. Manickam now holding 15.79% directly and ABT Investments retaining 41.75%, could this shift in control structure lead to changes in Sakthi Sugars' strategic direction or board composition?

Given that ABT Investments has dropped below the 50% threshold, how might this reclassification from holding to associate company affect Sakthi Sugars' access to credit, borrowing terms, or financial consolidation with the parent group?

Could the reduction in ABT Investments' stake to 41.75% make Sakthi Sugars a more attractive acquisition target for external investors or competitors in the sugar sector?

Sakthi Sugars Limited Opens Special Window for Transfer and Dematerialisation of Physical Securities

1 min read     Updated on 16 Apr 2026, 12:56 PM
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Sakthi Sugars Limited has opened a special window from February 05, 2026 to February 04, 2027 for transfer and dematerialisation of physical securities sold or purchased before April 01, 2019, following SEBI circular dated January 30, 2026. Previously rejected transfer requests can be re-lodged through MUFG Intime India Private Limited, with all securities mandatorily credited in demat form and subject to one-year lock-in period.

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Sakthi Sugars Limited has announced the opening of a special window for transfer and dematerialisation of physical securities, following regulatory guidelines from the Securities and Exchange Board of India. The company published newspaper advertisements on April 16, 2026 to inform investors about this significant opportunity.

Special Window Details

The special window will remain operational for one year, providing investors with adequate time to complete their transactions. Key parameters of this initiative include:

Parameter: Details
Window Period: February 05, 2026 to February 04, 2027
Regulatory Authority: SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026
Circular Date: January 30, 2026
Eligible Securities: Physical securities sold or purchased prior to April 01, 2019

Eligible Transfer Requests

The special window specifically addresses previously problematic transfer requests. Investors can re-lodge physical share transfer requests that were:

  • Earlier submitted but rejected due to deficiencies in documentation
  • Returned due to procedural lapses
  • Not processed for various other reasons

All re-submissions must be made through the company's Registrar and Transfer Agent, MUFG Intime India Private Limited (formerly Link Intime India Private Limited), located at Surya, 35, Mayflower Avenue, Behind Senthil Nagar, Sowripalayam Road, Coimbatore - 641028, Tamilnadu, India.

Transfer Conditions and Restrictions

Securities processed under this special window will be subject to specific conditions designed to ensure regulatory compliance:

Condition: Requirement
Credit Format: Mandatorily in dematerialised form only
Destination: Transferee's demat account
Lock-in Period: One year from date of registration
Restrictions During Lock-in: No transfer, pledge, or lien-marking allowed
Documentation: All documents as prescribed under SEBI Circular

Exclusions and Limitations

Certain categories of cases will not be eligible for processing under this special window. The company has clearly specified that:

  • Cases involving disputes between transferor and transferee will not be considered
  • Such disputes must be resolved through appropriate court or NCLT proceedings
  • Securities already transferred to the Investor Education and Protection Fund (IEPF) are not eligible for processing

The transferee must mandatorily submit all documents as prescribed under the SEBI Circular to ensure smooth processing of their requests. This special window represents a significant opportunity for investors holding physical securities to regularise their holdings and benefit from the advantages of dematerialised securities.

Historical Stock Returns for Sakthi Sugars

1 Day5 Days1 Month6 Months1 Year5 Years
-1.58%-7.31%-3.07%-10.13%-24.74%+21.69%

Will SEBI extend similar special windows to other companies with significant physical shareholdings after February 2027?

How might the one-year lock-in period affect Sakthi Sugars' stock liquidity and trading volumes during 2026-2028?

What happens to investors who miss this February 2027 deadline - will there be any future opportunities for physical share conversion?

More News on Sakthi Sugars

1 Year Returns:-24.74%