Business · Markets · 1 hr ago
SEBI exempts DKJ Ownership Trust from open offer for S Chand shares
India’s market regulator, SEBI, has allowed DKJ Ownership Trust to acquire a 19.85% stake in S Chand and Company without making an open offer to other shareholders.
The trust will receive 70 lakh shares from promoter Neerja Jhunjhnuwala, whose holding will fall from 22.68% to 2.84%.
S Chand is an educational publishing company.
SEBI said the transfer is part of an internal restructuring to streamline promoter holdings and support succession planning.
The trust’s trustees and beneficiaries are promoters, their immediate relatives or descendants, and the company’s control will not change.
The promoter group’s combined stake will remain at 46.99%, and SEBI said the transaction will not harm public shareholders.
The trust must complete the acquisition within one year of SEBI’s order and file a report with the regulator within 21 days of completion.
SEBI exempted DKJ Ownership Trust from making an open offer for a proposed 19.85 per cent stake in S Chand and Company.
The trust plans to acquire 70 lakh shares from promoter Neerja Jhunjhnuwala as part of an internal restructuring.
After the transfer, Jhunjhnuwala’s holding would fall from 22.68 per cent to 2.84 per cent, while the trust would hold 19.85 per cent.
SEBI said the transaction is intended to support succession planning and would not change control of the company.
The exemption is conditional, including a requirement to complete the transaction within one year of the order.
- Who
- DKJ Ownership Trust and S Chand and Company; the shares would be acquired from promoter Neerja Jhunjhnuwala.
- What
- SEBI exempted the trust from making an open offer for a proposed 19.85 per cent stake in S Chand.
- When
- SEBI granted the exemption on Monday; the article was published on October 13, 2026.
- Where
- New Delhi.
- Why
- The proposed internal restructuring is intended to streamline promoter holdings and facilitate succession planning.
This story does not have two clearly opposing sides.
DKJ Ownership Trust proposed to acquire 70 lakh shares from Neerja Jhunjhnuwala as part of an internal restructuring.
SEBI exempted the trust from the open-offer requirement for the proposed acquisition.
- Proposed stake
- 19.85 per cent of S Chand and Company
- Shares to be acquired
- 70 lakh
- Seller
- Neerja Jhunjhnuwala
- Jhunjhnuwala’s current stake
- 22.68 per cent
- Promoter group holding
- 46.99 per cent, to remain unchanged
- Completion deadline
- Within one year of the order
What people are saying
I... hereby grant exemption to the proposed acquirer, DKJ Ownership Trust, from complying with the requirements of the SAST Regulations, 2011 with respect to the proposed direct acquisition in S Chand and Company Ltd, by way of proposed transaction
Sources
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