SKF India has successfully completed its ownership restructuring with the transfer of 52.58% shareholding from AB SKF to SKF Interim AB. The transaction was executed on December 22, 2025, through an off-market inter-se transfer, with comprehensive regulatory disclosures filed under Regulation 10(6) of SEBI SAST Regulations on December 23, 2025.

Transaction Completion and Regulatory Framework

SKF Interim AB acquired 25,992,059 equity shares representing 52.58% of SKF India's total shareholding from Aktiebolaget SKF (AB SKF). The transaction was executed pursuant to an off-market inter-se transfer between the promoter and its wholly-owned subsidiary, involving no monetary consideration as an unconditional and irrevocable shareholders contribution in accordance with Swedish law.

SEBI Regulatory Disclosures and Compliance

The company filed comprehensive disclosures under Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction falls within the exemption provided under Regulation 10(1)(a)(iii) of the SEBI SAST Regulations, being an inter-se transfer of shares between AB SKF and its wholly-owned subsidiary. Sanoj Somasundaran, the authorized signatory, submitted the required documentation to both BSE and NSE in continuation of the earlier filing under Regulation 10(5) dated December 12, 2025.

Updated Shareholding Structure

The completed transaction resulted in a complete transfer of AB SKF's direct holding to its wholly-owned subsidiary. SKF Interim AB, being a wholly-owned subsidiary of AB SKF and a member of the promoter group, maintains the strategic control structure within the promoter group framework. The transfer represents an internal reorganization without affecting the company's operational control.

Corporate Structure and Legal Framework

The inter-se transfer maintains the promoter group's overall control of 52.58% in the bearing systems manufacturer while reorganizing ownership through a subsidiary structure. The restructuring represents an internal reorganization within the promoter group without affecting the company's operational control or share capital structure. The transaction was executed as an unconditional and irrevocable shareholders contribution with no monetary consideration involved, ensuring compliance with both Indian and Swedish regulatory requirements.

SKF India , a leading manufacturer of bearings and lubrication systems, has made several significant announcements following its recent board meeting. The company has approved its financial results and proposed a substantial dividend, along with key board appointments and corporate actions.

Financial Results and Dividend

The Board of Directors of SKF India has given its approval to the unaudited financial results for the fourth quarter and the audited annual financial results for the fiscal year that concluded on March 31, 2024. M/s. Deloitte Haskins & Sells LLP, the statutory auditors, have issued unmodified opinions on these financial statements, indicating their agreement with the company's financial reporting.

In a move that is likely to please shareholders, the Board has recommended a final dividend of Rs 130.00 per equity share for the financial year. This dividend, if approved by the members at the upcoming Annual General Meeting (AGM), will be paid within 30 days of the AGM.

Annual General Meeting and Record Date

SKF India has scheduled its 63rd AGM for August 13, 2024. In light of ongoing precautions, the meeting will be conducted via video conferencing. The company has set July 4, 2024, as the record date for both AGM participation and dividend eligibility.

Board Reappointments and New Appointments

The Board has approved the reappointment of two independent directors for second terms of five years each, subject to member approval through a postal ballot:

• Mr. Gopal Subramanyam
• Ms. Anu Wakhlu

Additionally, the company has appointed various auditors for the financial year 2024-25:

• Cost auditors
• Secretarial auditors
• Tax auditors

Postal Ballot for Key Appointments

SKF India has initiated a postal ballot process to seek shareholder approval on crucial appointments, including a new Managing Director and other directors. The e-voting for this process is scheduled from May 23 to June 21, 2024.

These announcements reflect SKF India's commitment to corporate governance, shareholder value, and strategic leadership. The proposed dividend, if approved, could signal the company's strong financial position and its dedication to rewarding shareholders. Meanwhile, the board reappointments and new auditor appointments underscore the company's focus on maintaining experienced oversight and ensuring financial transparency.

Investors and stakeholders will likely be keen to see the detailed financial results in the coming days to gauge the company's performance in the fourth quarter and the entire fiscal year 2023-24. The outcome of the postal ballot on key appointments could also have significant implications for the company's future direction and governance.