Mirae Asset Mutual Fund has made a substantial acquisition in SKF India (Industrial) Ltd, acquiring 31,25,019 shares representing 6.32% of the company's total voting capital. The transaction was completed through open market purchases on December 9, 2025, as disclosed in a regulatory filing with the Bombay Stock Exchange.

Acquisition Details

The disclosure filed under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, reveals the complete transaction structure:

Shareholding Pattern Changes

Prior to this acquisition, Mirae Asset Mutual Fund held no shares in SKF India (Industrial) Ltd. The transaction represents a fresh investment by the mutual fund house in the industrial bearings company.

Corporate Restructuring Context

The filing indicates that the acquisition occurred in the context of a demerger with SKF India Limited. According to the disclosure, due to the demerger, the paid-up capital of SKF India (Industrial) Ltd increased, resulting in the 6.32% stake for Mirae Asset Mutual Fund. The document clarifies that there was no actual acquisition by the Asset Management Company (AMC), suggesting the shareholding emerged as a result of the corporate restructuring process.

Regulatory Compliance

Mirae Asset Investment Managers (India) Private Limited, through its Head of Compliance, Legal and Company Secretary Rimmi Jain, filed the mandatory disclosure on December 10, 2025. The company maintains its registered office at Unit No. 606, 6th Floor, Windsor Building, confirming its adherence to SEBI regulations for substantial shareholding disclosures.

The equity share capital of SKF India (Industrial) Ltd before the said acquisition stood at 4,94,37,963 shares. The mutual fund house is not classified as a promoter or part of the promoter group of the target company, maintaining its status as an institutional investor.

SKF India Limited (BSE: 500472) has taken a significant step forward in its proposed demerger with SKF India (Industrial) Limited by submitting a detailed compliance letter to the Bombay Stock Exchange (BSE). The letter addresses 17 key observations regarding the demerger scheme, demonstrating the company's commitment to regulatory adherence and transparency.

Compliance Highlights

SKF India has meticulously responded to the BSE's observations, covering various aspects of the demerger process:

1. Disclosure Requirements: The company confirmed full compliance with all necessary disclosures, ensuring shareholders have access to comprehensive information.

2. Regulatory Adherence: SKF India affirmed its compliance with SEBI circulars and other relevant regulations governing the demerger process.

3. Shareholder Protection: The company has incorporated provisions for e-voting by public shareholders, aligning with SEBI's requirements for fair and transparent decision-making.

4. Financial Information: As required, SKF India has included up-to-date financial details in the scheme documents.

5. Creditor Considerations: The National Company Law Tribunal (NCLT) has dispensed with the requirement for unsecured creditors' meetings, streamlining the approval process.

Key Developments

• NCLT Application: SKF India filed its application with the NCLT on April 9, 2025, within the six-month deadline from the receipt of BSE's observation letter dated March 28, 2025.

• Shareholder Approval Process: The NCLT has directed that shareholder approval be obtained through e-voting, ensuring a modern and accessible voting mechanism.

• Unsecured Creditors: The NCLT has waived the requirement for meetings of unsecured creditors, potentially expediting the demerger process.

Implications for Investors

This development signifies progress in SKF India's strategic initiative to demerge its operations. Investors should note:

1. The company's proactive approach to regulatory compliance.
2. The potential for a more streamlined approval process due to the NCLT's directions.
3. The upcoming e-voting process for shareholder approval.

Shareholders are advised to carefully review the detailed information provided by the company regarding the demerger scheme and its potential impacts.

Next Steps

Investors and stakeholders should watch for:

1. Announcement of the e-voting dates for shareholder approval.
2. Further updates on the NCLT process and any additional regulatory requirements.
3. Detailed information on the post-demerger structure and its implications for current SKF India shareholders.

As the demerger process progresses, SKF India Limited is expected to provide additional updates to ensure full transparency and compliance with all regulatory requirements.