News > SEBI allows Shakti Pumps' promoters to transfer shares to family trust

SEBI allows Shakti Pumps' promoters to transfer shares to family trust

Capital market regulator SEBI has exempted the promoters of Shakti Pumps from the requirement of making an open offer under takeover regulations after considering the promoters' request to allow the transfer of shares for succession planning. Dinesh Patidar had applied on behalf of Shakti Sons Trust. The promoter of Shakti Pumps had asked for the exemption for the acquisition of shares of the group's unlisted companies by Shakti Sons Trust.