The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Moxa Nirav Patel
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Moxa Nirav Patel (along with PAC Kokilaben V Patel), a non-promoter acquirer, has disclosed acquisition of 6,47,630 equity shares of Ace Men Engg Works Ltd on November 25, 2025, through a preferential allotment on a share-swap basis (consideration other than cash). Post-acquisition, the acquirer's holding has risen from 41,534 shares (1.34%) to 6,89,164 shares (5.34%) of the company. The company's paid-up equity capital has expanded sharply from Rs 3.10 crore (30.98 lakh shares) to Rs 12.91 crore (1.29 crore shares), indicating a sizeable preferential issue linked to the share swap.
This is a non-promoter crossing the 5% disclosure threshold via a share swap rather than a cash market purchase, so there is no direct cash inflow to the company. Shareholders should note significant equity dilution (paid-up capital has more than quadrupled), which could affect per-share metrics and free-float dynamics.