The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for RMG Infratech Pvt Ltd
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RMG Infratech Private Limited, part of the promoter group of Ahmedabad Steelcraft Ltd, has acquired 23,00,000 equity shares (23.85% of total share capital and 15.24% on a diluted basis) through the conversion of warrants on a preferential basis. Before this acquisition, RMG Infratech held 0 shares directly but had 23 lakh warrants; after conversion, it now holds 23.85% in direct equity. The allotment was received on June 26, 2025, and the disclosure was filed with BSE on June 30, 2025. The acquisition happened on a preferential allotment basis, and the new shares rank equally with existing equity shares of Rs. 10 face value. On a fully diluted basis, the company's total share capital will stand at 1,50,92,000 equity shares after all outstanding warrants are converted.
This is a promoter group entity increasing its direct stake in the company by converting existing warrants, which strengthens promoter control. For retail investors, this signals continued promoter commitment but also results in equity dilution on a fully diluted basis.