Mehta Family Trust Indirectly Acquires 24.04% Stake in Saurashtra Cement Limited Amid Succession Planning
Saurashtra Cement Limited (SCL) saw a significant change in its ownership structure following an indirect acquisition of voting rights by the Mehta Family Trust. The transaction, designed as an internal family reorganization and succession planning initiative, resulted in the Acquirer Trust holding 24.04% of SCL's voting rights.The acquisition involves the transfer of interests held by members of the promoter group, including Jay Mahendra Mehta and Juhi Chawla Mehta. The restructuring aims to consolidate control within the Mehta Family structure and achieve long-term succession planning objectives for the company.
Key components of the acquisition include:
- Jay Mahendra Mehta transferring 2,49,999 shares (representing 49.99% of Galaxy Technologies Private Limited's holdings) to the Mehta Family Trust.
- Juhi Chawla Mehta transferring 50.04% of her profit sharing and voting rights in Omna Enterprises LLP to the Acquirer Trust.
Through these transfers, the Mehta Family Trust, acting jointly with associated entities within the existing promoter group, will indirectly acquire a total of 24.04% of Saurashtra Cement Limited’s voting rights (14.57% from Galaxy Technologies Private Limited and 9.46% from Omna Enterprises LLP).
The transaction was recognized by SEBI with an order dated July 14, 2026, granting the Mehta Family Trust an exemption regarding open offer obligations under the SAST Regulations, acknowledging that the proposed indirect acquisition is a family succession-planning transaction and does not prejudice public shareholders.
Shareholding and Transactional Impact
The proposed restructuring resulted in no direct change to the equity share capital of SCL. The collective holding of the promoter group stands at 7,41,40,412 shares, which equates to 66.62% of the company's total share capital.Crucially, both before and after the acquisition, there will be no change in control or management of Saurashtra Cement Limited, and the pre and post-acquisition shareholding of the promoter group, as well as the public shareholders, remains unchanged.
The detailed shareholding pattern of SCL is presented below:
| Particulars | Total Shareholding (Shares) | Percentage (%) |
|---|---|---|
| Total Promoter Shareholding | 7,41,40,412 | 66.62 |
| Public Shareholding | 3,71,46,868 | 33.38 |
| Total Shareholding | 11,12,87,280 | 100.00 |
The acquisition details highlight the holdings of Galaxy Technologies Private Limited and Omna Enterprises LLP within the promoter group:
| Entity Name | Percentage of Shares in SCL | Transactional Role |
|---|---|---|
| Galaxy Technologies Private Limited | 14.57% | Holding whose interest was transferred by Jay Mahendra Mehta to the Trust. |
| Omna Enterprises LLP | 9.46% | Partnership holding whose profit-sharing rights were transferred by Juhi Chawla Mehta to the Trust. |
The restructuring is intended to streamline the Mehta Family's shareholding across the group companies, consolidating control into a single family trust without involving any third-party acquirer.
SAURASHCEM Stock Price Movement
Closing higher today, Saurashtra Cement Limited saw its stock surge by 3.70% to settle at ₹55.59. The stock traded on a volume of 251,419 shares, which moved within the day's range of ₹53.96 and ₹56.84.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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