SEBI grants exemption for Neterwala Family Trust in Uni Abex takeover

This order grants an exemption to the Neterwala Family Trust from specific SEBI takeover regulations regarding the proposed indirect acquisition of control in Uni Abex Alloy Products Limited. The acquisition involves transferring shares of a promoter group company to the trust for succession planning purposes.

Neterwala Family Trust (Acquirer), Uni Abex Alloy Products Limited (Target Company), Feroze D. Neterwala (Transferor/Settlor), Chemicals and Ferro Alloys Private Limited (CFA), Unitel Finance and Investments Private Limited, S.D.N Company (Partnership Firm).

• Exemption granted from sub-regulation (1) of regulation 3 and regulation 5 read with regulation 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
• Proposed indirect acquisition of 63.48% of the Target Company's equity shares and voting rights.
• Transfer of 96.09% shares in Chemicals and Ferro Alloys Private Limited (CFA) from Feroze D. Neterwala to the Neterwala Family Trust.
• The transfer is to be made without any consideration.
• Total equity share capital of the Target Company remains unchanged at INR 1,97,50,000/- (19,75,000 shares).
• Public shareholding remains unchanged at 36.37%.

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