Sakthi Sugars: Inter Se Transfer of 1,68,60,000 Shares Disclosed Under SEBI PIT Regulations 2015
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 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 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?

































