Disclosure under Reg 29(1) from the pineview portfolio
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Pine View Portfolio Consultants Private Limited has converted 20 lakh warrants into equity shares of Afloat Enterprises Ltd (formerly Adishakti Loha and Ispat Ltd), acquiring a 15.93% stake in the company. The conversion happened on August 4, 2025, taking the company's total equity share count from 45.58 lakh to 1.25 crore shares. Pine View is not classified as part of the promoter group. The disclosure is filed under SEBI's Takeover Regulations because the acquirer's voting rights crossed the 15% threshold, requiring public disclosure.
A non-promoter institutional entity now holds nearly 16% of the company, which is a sizeable passive stake. Shareholders should note the significant dilution of equity (from 45.58 lakh to 1.25 crore shares), which may affect per-share metrics going forward. The stock may see some reaction due to the change in shareholder base.