Disclosure received from alrick construction under Reg 29(1)
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Alrick Constructions Private Limited, a non-promoter entity, has acquired 20,00,000 equity shares (15.93%) in Adishakti Loha and Ispat Ltd (now renamed Afloat Enterprises Ltd) through the conversion of warrants into equity shares on August 4, 2025. Prior to this, Alrick held no equity shares but held 20 lakh warrants representing 15.93% of the capital. As a result of this conversion, the company's total share capital increased from 45.58 lakh shares to 1.25 crore shares (more than doubling). Since the acquisition crossed the 15% substantial acquisition threshold, this disclosure under Regulation 29(1) was triggered. Alrick does not belong to the promoter or promoter group of the company.
A new non-promoter shareholder now holds a significant 15.93% stake in the company, which could influence future corporate decisions and shareholder dynamics. The share capital expansion through warrant conversion also means existing shareholders' percentage holdings have been diluted, and the company has effectively undergone a name change to Afloat Enterprises Ltd.