Allcargo Logistics: SEBI Exempts Promoter Trust from Takeover Rules

Allcargo Logistics has received an order from SEBI granting an exemption to the Shashi Kiran Shetty Family Trust from complying with Regulations 3 and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This exemption pertains to the proposed direct acquisition of up to 51,54,24,268 equity shares, representing 34.41% of the company's paid-up equity share capital. The transaction is described as an internal reorganisation for family succession planning and will not alter the ultimate beneficial ownership, economic interest, voting control, or overall promoter/public shareholding.