ICILIndo Count Industries Limited
Lhochhar Trust indirectly acquires voting rights linked to Indo Count promoter Sandridge’s 31.31% stake
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Orbis Consulting AG, Zurich, as trustee of The Lhochhar Trust, has filed a disclosure dated 14 Oct 2026 with BSE and NSE under Regulation 10(6) of the SEBI takeover regulations about Indo Count Industries Limited. Sandridge Investments Limited, a promoter of Indo Count, holds 6,20,02,455 equity shares, which is 31.31% of the company’s equity share capital.
The letter says the shares of Sandridge’s holding company have been acquired by The Lhochhar Trust, through its trustee, under a testamentary transmission. As a result the trust, as the acquirer, has indirectly acquired the voting rights associated with Sandridge’s shareholding in Indo Count.
No Indo Count shares have been directly transferred under this transmission, and Sandridge’s shareholding in the company stays at 31.31%. The filing encloses the detailed disclosure required under Regulation 10(6).
Inference
The change is in who controls the promoter entity, not in the number of Indo Count shares the promoter holds, which is unchanged. A testamentary transmission is a transfer under a will.
The filing does not say whether the trust intends to make any open offer or change the management of Indo Count. It also does not name the individual whose estate the transmission arises from.
Reference: Original filing (PDF)
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