Solar Industries India Limited has completed another significant phase of its promoter group restructuring, with Kailash Chandra Nuwal transferring his entire 23.08% equity stake to the Sohan Devi Nand Lal Nuwal Family Trust through inter-se transfer arrangements.

Transfer Details

Kailash Chandra Nuwal transferred 2,08,82,963 equity shares representing 23.08% of Solar Industries India Limited's total share capital to the family trust on 9th March 2026. The transfer was executed as a gift transaction under SEBI exemption order WTM/AB/CFD/19/2024-25 dated 21st March 2025.

Updated Shareholding Structure

Following this transfer, the promoter group shareholding remains unchanged at 73.15%, with the family trust now holding a substantial 23.08% stake. Kailash Chandra Nuwal's individual holding has been reduced to zero as part of the succession planning initiative.

Family Trust Framework

The Sohan Devi Nand Lal Nuwal Family Trust operates as an irrevocable trust under the Indian Trusts Act, 1882, with a trust deed dated 31st December 2024. The trust structure facilitates organized succession planning while maintaining promoter group control.

Regulatory Compliance

The transfer was completed under pre-clearance approval dated 4th March 2026 and SEBI exemption order WTM/AB/CFD/19/2024-25. The exemption was granted considering the transaction's nature as internal family reorganization for succession and welfare purposes.

This transfer forms part of the larger 29.23% acquisition by the family trust, with the remaining portion involving transfer from Indira Kailashchandra Nuwal. The transaction maintains overall promoter group control while facilitating structured wealth transfer to future generations through the trust mechanism.

Solar Industries India Limited has announced a major milestone in its defence sector expansion with the commencement of construction for a new Robotics and Unmanned Aerial Vehicle (UAV) manufacturing facility. The company's wholly owned subsidiary, Solar Defence and Aerospace Limited, conducted the Bhoomi Pujan ceremony on March 7, 2026, at the MIHAN Special Economic Zone in Nagpur.

Ceremony Details

The groundbreaking ceremony was graced by distinguished dignitaries, highlighting the strategic importance of this initiative. The following table outlines the key ceremony details:

Strategic Expansion into Defence Technologies

This facility represents a significant step in Solar Industries' strategic expansion into advanced defence technologies. The proposed manufacturing unit will focus on developing cutting-edge solutions that align with India's vision for self-reliance in defence manufacturing. The facility will concentrate on three key areas of development and production.

The manufacturing facility will specialize in the development and production of Unmanned Aerial Vehicles (UAVs), robotics platforms, and next-generation defence technologies. These capabilities are specifically aimed at strengthening indigenous defence manufacturing capabilities and reducing dependence on foreign technology.

Commitment to Indigenous Defence Manufacturing

The establishment of this facility underscores Solar Industries' commitment to supporting the nation's vision for self-reliance in defence manufacturing and technological advancements. The company's expansion into autonomous systems and robotics-enabled solutions positions it as a key player in India's defence manufacturing ecosystem.

The facility at MIHAN SEZ will contribute to the development of indigenous defence technologies, supporting the government's initiatives for strengthening domestic defence capabilities. This strategic move aligns with national priorities for technological advancement and self-sufficiency in critical defence sectors.