印度资本市场监管机构 Sebi 周一豁免 DKJ Ownership Trust 需要就收购 S Chand and Company 19.85% 股份发出要约收购，此举是其一项内部重组的一部分。
Capital markets regulator Sebi on Monday exempted DKJ Ownership Trust from making an open offer to acquire a 19.85% stake in S Chand and Company from one of the promoters as part of an internal restructuring.
根据 Sebi 的命令，在拟议的交易中，该信托将从目前持有该教育出版公司 22.68% 股份的 Neerja Jhunjhnuwala 处购买 70 万股股份。
Under the proposed transaction, the trust will acquire 70 lakh shares from Neerja Jhunjhnuwala, who currently holds a 22.68% stake in the educational publishing company, according to the Sebi order.
股份转让完成后，Neerja 的持股比例将降至 2.84%，而该信托将持有公司 19.85% 的股份。
Following the transfer of shares, Neerja's shareholding will decline to 2.84%, while the trust will hold 19.85% in the company.
印度证券交易所监管委员会（Sebi）表示，该拟议收购旨在简化发起人及发起人集团的持股结构，并便于继任规划。
The Securities and Exchange Board of India said the proposed acquisition was intended to streamline the promoter and promoter group holdings and facilitate succession planning.
市场监管机构指出，该交易具有非商业性质，且不会以任何方式损害公司公众股东的利益。
The market watchdog noted that the transaction was non-commercial in nature and will not prejudice the interests of the public shareholders of the company in any manner.
Sebi 观察到，该信托的受托人和受益人均为发起人、其直系亲属或直系后代，且公司控制权不会发生变化。发起人集团的总持股比例将保持不变，仍为 46.99%。
Sebi 全职成员 Kamlesh Chandra Varshney 表示：“我 hereby 豁免拟议收购方 DKJ Ownership Trust，无需遵守 2011 年《SAST 条例》关于直接收购 S Chand and Company Ltd 的要求，此豁免是通过拟议交易方式授予的。”
Sebi observed that the trust's trustees and beneficiaries were promoters, their immediate relatives or lineal descendants, and there would be no change in control of the company. The promoter group's aggregate shareholding will remain unchanged at 46.99%."I... hereby grant exemption to the proposed acquirer, DKJ Ownership Trust, from complying with the requirements of the SAST Regulations, 2011 with respect to the proposed direct acquisition in S Chand and Company Ltd, by way of proposed transaction," Sebi's Whole Time Member Kamlesh Chandra Varshney said.
Sebi 表示，该豁免需满足一定条件，包括在完成收购后 21 天内向 Sebi 提交报告。
Sebi said the exemption from the open offer is subject to conditions, including filing a report with Sebi within 21 days of completing the acquisition.
该信托必须在该命令发布之日起一年内完成拟议交易，否则豁免将失效。
The trust must complete the proposed transaction within one year of the order, failing which the exemption will lapse.