The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Nishant Nayak
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Nishant Nayak, a non-promoter individual (along with PAC Aesha Nishant Nayak), has acquired 6,92,880 equity shares of Ace Men Engg Works Ltd, representing 5.37% of the total share capital and voting rights. The shares were allotted on November 25, 2025 through a preferential issue for consideration other than cash (share swap). As a result of this preferential allotment, the company's paid-up capital expanded roughly four-fold, from Rs 3.10 crore (30.98 lakh shares) to Rs 12.91 crore (1.29 crore shares) of Rs 10 each. Nishant Nayak is not part of the promoter or promoter group of the company. The disclosure was filed with BSE, the only exchange where the stock is listed.
This is a significant capital expansion for the company via a share swap, meaning the company has issued fresh equity to acquire assets or stakes from Nishant Nayak's side rather than receiving cash. Shareholders should note substantial dilution (paid-up capital increased ~4x) and a new non-promoter shareholder now holding 5.37%. The non-cash nature means no fresh liquidity for the company, but it signals a strategic transaction.