SKF India has announced an inter-se transfer of shares among its promoter and promoter group companies. This transfer involves 3,326,004 equity shares, representing 6.73% of the total shareholding capital of SKF India Limited.
The transaction is an off-market inter-se transfer from SKF (U.K.) Limited and SKF Förvaltning AB to Aktiebolaget SKF (AB SKF). This transfer is by way of dividend in kind to AB SKF and does not involve any consideration.
The proposed transaction details are as follows:
| Transferor | Transferee | Number of Shares | Percentage of Proposed Share |
|---|---|---|---|
| SKF (U.K.) Limited | AB SKF | 3,129,581 | 6.33% |
| SKF Förvaltning AB | AB SKF | 196,423 | 0.40% |
This inter-se transfer falls within the exemption provided under Regulation 10(1)(a)(ii) of the SEBI SAST Regulations, as it is a transfer among promoters and promoter group entities. The aggregate holding of the promoter and promoter group will remain the same before and after the transfer.
Shareholding Details:
| Particulars | Before the proposed transaction | After the proposed transaction |
|---|---|---|
| Aktiebolaget SKF (AB SKF) | 22,666,055 shares / 45.85% | 25,992,059 shares / 52.58% |
| SKF (U.K.) Limited | 3,129,581 shares / 6.33% | 0 shares / 0% |
| SKF Förvaltning AB | 196,423 shares / 0.40% | 0 shares / 0% |
The transfer is scheduled to take place on or after October 1, 2025.
Aktiebolaget SKF (AB SKF) has confirmed that the transferor and transferee have complied with the applicable disclosure requirements under Chapter V of the SEBI SAST Regulations.
The distribution as dividend in kind is permissible under Part 23 of the (UK) Companies Act, 2006 and Chapter 17-18 of the Swedish Companies Act (2005:551).
With respect to proposed inter-se transfer of shares in terms of Regulation 10(1)(a)(ii) of SEBI SAST Regulations and subsequent amendments thereto, the Acquirer hereby declares that the transferor and the transferee have complied/ will comply with the applicable disclosure requirements under Chapter V of the Takeover Regulations 2011.
The copies of the disclosures made by the transferor and transferee during 3 years prior to the date of proposed acquisition in accordance with Chapter V of the Takeover Regulations, 2011 are enclosed as Annexure - A
All applicable conditions specified under Regulation 10(1)(a) of the SEBI SAST Regulations with respect to the exemptions have been duly complied with.
The aggregate holding of the promoter and promoter group will remain the same before and after the transfer.
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