The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Alrick Constructions Pvt Ltd
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 disclosed the acquisition of 20,00,000 convertible warrants in Afloat Enterprises Limited (formerly Adishakti Loha and Ispat Ltd) via a preferential allotment dated May 8, 2025. These warrants represent 25% of the total 80 lakh warrants issued by the company. After this acquisition, Alrick holds 25% of the total diluted share capital of the target company. The target company's total equity share capital remains at 45,58,000 shares of Rs.10 each (Rs. 4.55 crore), with no change in the existing share structure since only warrants (not equity shares) were allotted.
This is a mandatory SAST disclosure triggered by a preferential warrant allotment to a non-promoter entity, which could lead to equity dilution upon warrant conversion. Retail investors should monitor how this capital raising effort is used by the company and watch for any future conversion-related impact on shareholding.