The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Syamali Security & Consultants 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.
Syamali Security & Consultants Pvt Ltd, a non-promoter entity, disclosed an acquisition of 20,00,000 equity shares (15.93%) in Afloat Enterprises Limited (formerly Adishakti Loha and Ispat Ltd) on August 4, 2025, through conversion of warrants into equity shares. Before this, the entity held zero equity shares and only 20 lakh warrants (0.00% of diluted capital). After conversion, it holds 20 lakh equity shares, giving it a 15.93% stake. The company's total equity share capital expanded from 45.58 lakh shares (Rs. 4.56 crore) to 1.25 crore shares (Rs. 12.56 crore), indicating an additional 80 lakh shares were allotted via warrant conversions. The acquirer is explicitly NOT part of the promoter/promoter group, which is why this triggers a separate Reg 29(1) SAST disclosure.
A non-promoter entity now holds nearly 16% of the company, which is a sizeable stake that could give it significant influence at shareholder meetings. The dilution from warrant conversion also expands the share capital by ~175%, which may weigh on earnings per share for existing shareholders.