The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ponnapula Karthik Sanjay & PACs
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Ponnapula Karthik Sanjay and Persons Acting in Concert (PACs), who belong to the promoter group of Aion-Tech Solutions Ltd, acquired 1,21,25,000 equity shares (23.20% of the company's share capital) through a preferential allotment on May 12, 2025. The shares were allocated among Trinity Infraventures Limited (7.23%), Mahita Prasad Caddell (13.82%), and Ponnapula Karthik Sanjay (2.15%). The company's total equity share capital expanded from Rs. 34.58 crore (3.45 crore shares) to Rs. 52.26 crore (5.22 crore shares), reflecting the issuance of about 1.77 crore new shares. Following this acquisition, the promoter group's combined holding rose from 53.89% to 58.86% of the company.
This is a significant promoter-led capital infusion that strengthens the promoter group's controlling stake from 53.89% to 58.86%, reducing the free float available to public shareholders. Existing public investors will see their proportional holding diluted by the fresh issue of shares, though the preferential allotment also brings fresh capital into the company.