Lactose (India) Limited has received comprehensive regulatory filings from SST Private Family Trust regarding its completed acquisition of a 4.57% stake in the pharmaceutical company. The trust filed detailed disclosure documents with SEBI on January 14, 2026, following the completion of the inter-se transfer among promoter group entities on December 17, 2025.

SEBI Regulatory Filing Details

SST Private Family Trust submitted its mandatory disclosure under Regulation 10(7) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The comprehensive filing included all required regulatory documentation:

Transaction Completion Summary

The acquisition involved the transfer of shares from Madhusha Lifecare Private Limited to SST Private Family Trust, both being promoter group entities. The transaction was executed at a predetermined price with full regulatory compliance:

Shareholding Pattern Changes

The completed transaction resulted in significant changes to SST Private Family Trust's shareholding position while maintaining overall promoter group holdings:

Regulatory Compliance Timeline

The trust maintained full compliance with SEBI regulations throughout the acquisition process, filing all required documents within prescribed timelines:

Demat Account Clarification

SST Private Family Trust operates two demat accounts under different names but belonging to the same trust entity. Due to a clerical error, shares were transferred to the account reflecting the Trustee's name (Mahendra Singhi) instead of the Settlor's name (Shyamsunder Bhorilal Toshniwal) as initially indicated. The trust clarified that both accounts belong to the same entity and no third-party transfer occurred.

The transaction falls under the general exemption provisions of Regulation 10(1)(a) of SEBI SAST Regulations, covering inter-se transfers among promoter group entities and immediate relatives. The aggregate holding of the promoter and promoter group remains unchanged, with the transaction representing an internal restructuring within the promoter group of the pharmaceutical company.

CRISIL Ratings Limited has reaffirmed the credit rating for Lactose India Limited , maintaining its long-term bank facilities at BBB- with a stable outlook. This rating assessment covers a total of Rs. 60.00 crore in bank loan facilities from Bank of Baroda.

Rating Details

The reaffirmed rating applies to the following facilities:

Rating Validity and Disclosure

The rating letter was issued on October 24, 2025, and remains valid until March 31, 2026. Lactose India Limited's Company Secretary, Ritesh Pandey, submitted the rating confirmation to BSE Limited in compliance with regulatory disclosure requirements.

About the Rating

CRISIL's BBB- rating indicates that the company has a moderate degree of safety regarding timely servicing of financial obligations. This rating suggests that Lactose India Limited faces moderate credit risk, and changes in circumstances or economic conditions are more likely to weaken its capacity to meet its financial commitments compared to entities in higher rating categories.

The 'Stable' outlook indicates that CRISIL expects Lactose India Limited to maintain its credit profile over the medium term. This outlook is based on the agency's assessment of the company's business and financial risk profile.

Implications for Investors and Stakeholders

The reaffirmation of the credit rating provides a degree of assurance to investors and stakeholders about Lactose India Limited's ability to meet its financial obligations. However, it's important to note that while the rating offers an opinion on the likelihood of timely debt repayment, it does not constitute a recommendation to buy, sell, or hold the company's securities.

Investors and stakeholders should consider this rating as one of many factors in their decision-making process and should also review other financial and operational aspects of the company for a comprehensive assessment.

As per CRISIL's disclaimer, the ratings are based on information provided by the issuer or obtained from sources considered reliable by CRISIL. The rating agency does not guarantee the completeness or accuracy of the information on which the rating is based and is not responsible for any errors in its ratings.