The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Rajesh Mehra & Stellant Securities (India) Ltd
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Active Clothing Co Ltd has allotted 20 lakh (2 million) fully convertible warrants to promoter and non-promoter groups on a preferential basis, each convertible into one equity share within 18 months. The promoter group (Rajesh Mehra, Renu Mehra, Kalika Mehra, and Rajesh Mehra HUF) received 10 lakh warrants (4 lakh + 4 lakh + 2 lakh), which will take their fully diluted post-conversion holding to 70.88% of the equity share capital. Separately, Stellant Securities (India) Ltd along with Subhash Phootarmal Rathod and Mangala Subhash Rathod (non-promoters) also received 10 lakh warrants, representing 9.10% of the fully diluted post-issue capital. The warrants carry a 25% upfront subscription payment as per SEBI ICDR rules. Post-allotment, the total diluted equity share capital will rise to 1,75,12,215 shares from the current 1,55,12,215 shares.
The preferential warrant allotment strengthens the promoter group's already dominant control (70.88% diluted) while bringing in a new non-promoter group (Stellant/Rathods) with a 9.10% stake. This signals continued promoter commitment and could lead to equity dilution for existing public shareholders once warrants convert, though it also indicates fresh capital infusion plans for the company.