SEBI exempts Shashi Kiran Shetty Trust from open offer for 34.41% Allcargo stake

The acquisition is described as an internal transfer within the promoter group for succession planning.

Who it concerns: Allcargo Logistics Limited (Target Company), Shashi Kiran Shetty Family Trust (Acquirer), Shashi Kiran Janardhan Shetty (Transferor/Trustee), Arathi Shetty, Adarsh Sudhakar Hegde, Vaishnavkiran Shetty, Shloka Shetty, Sonali Sundeep Tolani.

What SEBI found or ordered

• Exemption granted from Regulations 3 and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
• Acquisition of 51,54,24,268 equity shares (34.41% of total share capital) by the Shashi Kiran Shetty Family Trust.
• Transferor is Shashi Kiran Janardhan Shetty, a promoter of the Target Company.
• Transaction is characterized as a bona fide succession planning and estate consolidation within the promoter family.
• No change in ultimate beneficial ownership, economic interest, or voting control is expected.
• The transaction is non-commercial and involves no cash consideration.
• Annual compliance certification by an independent auditor is required.
• Changes in trustees/beneficiaries or ownership must be disclosed to stock exchanges within 2 days.

Also in the document

• The order is an exemption order, not an enforcement action against misconduct.
• The target company, Allcargo Logistics Limited, is listed on both BSE and NSE.
• The trust was originally executed in June 2023 and ratified in July 2026.
• Public shareholding remains unchanged at 59.72%.