The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Patel Dhyey Devangbhai
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Patel Dhyey Devangbhai, along with Persons Acting in Concert (Sonal Devang Patel and Patel Umesh Mukundbhai), has acquired 11,40,520 equity shares of Ace Men Engg Works Ltd on November 25, 2025 through a preferential allotment on a share swap basis (non-cash consideration). Prior to this acquisition, the acquirer held 23,721 shares (0.77%), and post-acquisition, the holding stands at 11,64,251 shares (9.02%) of the total share capital. The company's paid-up equity capital increased substantially from Rs 3.10 crore (30.98 lakh shares) to Rs 12.91 crore (1.29 crore shares) due to this preferential issue. The acquirer has clarified that he does not belong to the promoter or promoter group.
This is a significant equity dilution event for existing shareholders as the share base expanded more than 4x. While the acquirer is not a promoter, holding 9.02% post-acquisition places him near the 10% SEBI takeover disclosure threshold, meaning further purchases would trigger additional regulatory disclosures.