Sebi grants exemption to family trust linked to Bharat Forge promoter from open offer obligation
BNK, who directly holds stake and controls in four unlisted private limited companies -- Hibiscus Investment and Finance, Peach Blossom Investment, Rosario Investment, Yokoha Investment -- proposed to transfer his entire shareholding in these firms to the family trust for the purpose of welfare and succession planning of his family members.
Sebi on Wednesday granted exemption to Babasaheb Kalyani Family Trust from open offer obligation in respect of its proposed acquisition of shares in seven companies, including Bharat Forge. Photo: Reuters