BSECompany Update2d ago · 4 Nov 2026, 06:07 pm
Intimation Regarding SEBI Order granting Exemption to Rinku Appalwar Business Trust and Makrand Appalwar Business Trust under Securities and Exchange Board of India (Substantial Acquisition of Shares and Takovers) Regulations, 2011.
Emmbi Industries Ltd · 533161
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Emmbi Industries Ltd has received a SEBI order granting exemption to Rinku Appalwar Business Trust and Makrand Appalwar Business Trust from complying with certain regulations regarding the proposed acquisition of shares and voting rights in the company.
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Emmbi Industries Ltd - 533161 - Intimation Regarding SEBI Order Granting Exemption To Rinku Appalwar Business Trust And Makrand Appalwar Business Trust Under The Securities And Exchange Board Of India (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011
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Date: 04th November, 2026
To, To,
BSE Limited, National Stock Exchange of India Limited,
Department of Corporate Services, The Listing Department,
Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex,
Dalal Street, Mumbai - 400 001 Bandra (East), Mumbai - 400 051
BSE Code: 533161 NSE Symbol: EMMBI
Sub: Disclosure regarding SEBI Order granting exemption in respect of proposed acquisition of
shares by Rinku Appalwar Business Trust and Makrand Appalwar Business Trust
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, we wish to inform you that the Company has received a letter from Mrs. Rinku Appalwar, Trustee of
Rinku Appalwar Business Trust and Mr. Makrand Appalwar, Trustee of Makrand Appalwar Business Trust
(hereinafter referred to as Trustee), enclosing an order dated November 03, 2026 passed by the
Securities and Exchange Board of India (the SEBI).
Vide the said order, the SEBI has granted an exemption to Rinku Appalwar Business Trust (“Rinku Trust”)
& Makrand Appalwar Business Trust (“Makrand Trust”) from complying with the requirements of
Regulations 3, 4 and 5 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011,
in respect of the proposed acquisition of shares and voting rights in Emmbi Industries Limited, Emmbi
Laboratories Pvt Ltd. and Maithili Agrotech Pvt Ltd.
Pursuant to the proposed transaction involves the transfer of 38,39,550 equity shares (19.96%) held by
Mr. Makrand Moreshwar Appalwar and 23,67,746 equity shares (12.31%) held by Mrs. Rinku Makrand
Appalwar in the Company to their respective Business Trusts, along with the proposed transfer of shares
and preference shares held in Emmbi Laboratories Private Limited and shares held in Maithili Agrotech
Private Limited, as detailed in the aforesaid SEBI Order.
As stated in the application submitted to the SEBI, the proposed transaction is an internal reorganisation
of shareholding within the promoter and promoter group for family succession planning. The exemption
has been granted subject to the terms and conditions specified in the SEBI Order. The proposed
acquisition will not result in any change in the ultimate beneficial ownership, economic interest, voting
control or control of the Company. The aggregate shareholding of the promoters and promoter group, as
well as the public shareholding in the Company, will remain unchanged pursuant to the proposed
acquisition.
A copy of the letter received from Mrs. Rinku Appalwar, Mr. Makrand Appalwar and the SEBI Order are
enclosed for your information and records.
Thanking you,
Yours faithfully,
For Emmbi Industries Limited
Rinku Appalwar
Executive Director & CFO
DIN: 00171976
Corp. Off.: Kohinoor City Commercial - 1, B Wing, 3rd Floor, 306, 307 & 308, Kirol Road, Kurla (West), Mumbai, Maharashtra – 400070, India
Regd. Off: 99/2/1 & 9, Madhuban Industrial Estate, Madhuban Dam Road, Rakholi Village, Silvassa, U.T. of Dadra & Nagar Haveli - 396 230, India
Tel: +91 22 4672 5555 | Fax: +91 22 4979 0304 | CIN: L17120DN1994PLC000387 | Email: info@emmbi.com | www.emmbi.com
Date: 04th November, 2026
To, To,
BSE Limited, National Stock Exchange of India Limited,
Department of Corporate Services, The Listing Department,
Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex,
Dalal Street, Mumbai - 400 001 Bandra (East), Mumbai - 400 051
BSE Code: 533161 NSE Symbol: EMMBI
Subject: Intimation regarding SEBI Order granting Exemption to Rinku Appalwar
Business Trust and Makrand Appalwar Business Trust
Ref.: SEBI Order No. WTM/KCV/CFD/14/2026-27 dated November 03, 2026 granting
exemption under Regulation 11(5) of the SEBI (Substantial Acquisition of Shares and
Takeovers) Regulations, 2011 (“the SAST Regulations”)
Dear Sir/Madam,
We, Mrs. Rinku Makrand Appalwar and Mr. Makrand Moreshwar Appalwar, acting in our
capacity as Trustees of Rinku Appalwar Business Trust (“Rinku Trust”) and Makrand Appalwar
Business Trust (“Makrand Trust”) (collectively referred to as the “Acquirer Trusts”), hereby
submit this intimation regarding the SEBI Exemption Order granted in respect of the proposed
direct and indirect acquisition of shares, voting rights, and control in Emmbi Industries Limited
(“Target Company”).
Securities and Exchange Board of India (SEBI), vide its Order dated November 03, 2026, has
granted exemption to Makrand Appalwar Business Trust and Rinku Appalwar Business Trust,
respectively, from complying with the requirements of Regulations 3(2), 4 and 5 of the SEBI
(Substantial Acquisition of Shares and Takeovers) Regulations, 2011, in respect of the proposed
direct and indirect acquisition of shares and voting rights in the Company.
The proposed transaction involves the transfer of 38,39,550 equity shares (19.96%) held by Mr.
Makrand Moreshwar Appalwar and 23,67,746 equity shares (12.31%) held by Mrs. Rinku
Makrand Appalwar in the Company to their respective Business Trusts, along with the proposed
transfer of shares and preference shares held in Emmbi Laboratories Private Limited and shares
held in Maithili Agrotech Private Limited, as detailed in the aforesaid SEBI Order.
As stated in the application submitted to SEBI, the proposed transaction is undertaken as part of
an internal reorganization within the Promoter Family for succession planning purposes and shall
not result in any change in control of the Company. Further, the overall shareholding of the
Promoters and Promoter Group and the public shareholding of the Company shall remain
unchanged.
A copy of the SEBI Exemption Order dated November 03, 2026, is enclosed herewith for your
information and records.
Kindly take the same on record.
Thanking you,
Yours faithfully,
For and on Behalf of Makrand Appalwar Business Trust
Mr. Makrand Appalwar
Trustee
For and on Behalf of Rinku Appalwar Business Trust
Mrs. Rinku Makrand Appalwar
Trustee
Encl.: Copy of SEBI Exemption Order dated November 03, 2026.
WTM/KCV/CFD/14/2026-27
SECURITIES AND EXCHANGE BOARD OF INDIA
ORDER
UNDER SECTIONS 11(1) AND 11(2)(h) OF THE SECURITIES AND EXCHANGE
BOARD OF INDIA ACT, 1992 READ WITH REGULATION 11(5) OF THE
SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION
OF SHARES AND TAKEOVERS) REGULATIONS, 2011
IN THE MATTER OF PROPOSED DIRECT AND INDIRECT ACQUISITION OF
SHARES AND VOTING RIGHTS IN –
TARGET COMPANY PROPOSED ACQUIRERS
Rinku Appalwar Business Trust
Emmbi Industries Limited
Makrand Appalwar Business Trust
Background
1. Emmbi Industries Limited (hereinafter referred to as the “Target Company”), a
company incorporated on November 29, 1994 under the provisions of the
Companies Act, 1956, has its registered office at 99/2/1 & 9, Madhuban Industrial
Estate, Madhuban Dam Road, Rakholi Village, Union Territory of Dadra & Nagar
Haveli, Silvassa- 396230. The equity shares of the Target Company are listed on
the BSE Ltd. and the National Stock Exchange of India Limited.
2. An Application dated May 05, 2026 along with email dated September 02, 2026,
and other communications dated June 23, 2026, August 13, 2026, September 18,
2026, (hereinafter referred to as “Application”) seeking exemption from
applicability of provisions of regulations 3(2), 4 read with regulation 5 of the SEBI
(Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter
referred to as the “SAST Regulations, 2011”) was received by SEBI from Mrs.
Rinku Appalwar and Mr. Makrand Appalwar, in their capacity as the trustees of
the Rinku Appalwar Business Trust (hereinafter referred to as “Rinku Trust” or
“Acquirer Trust 1”) and Makrand Appalwar Business Trust (hereinafter referred
to as “Makrand Trust” or “Acquirer Trust 2”) (collectively referred to as the
Exemption Order in the matter of Emmbi Industries Limited. Page 1 of 13
“Acquirer Trusts”) respectively, in the matter of proposed direct and indirect
acquisition of shares and voting rights in the Target Company by the Acquirer
Trusts.
Details of the proposed acquisition:
3. The A
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