The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Nirmal Kumar Jain
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Promoter Nirmal Kumar Jain acquired 1 crore Fully Convertible Warrants through a preferential allotment at INR 7 per warrant (face value INR 1 + premium INR 6). After the acquisition, his total holding stands at 13.13 crore securities (11.41 crore equity shares + 1.72 crore warrants), representing 22.61% of the diluted capital. The company's equity capital expanded from INR 42.67 crore to INR 58.04 crore due to the preferential allotment, which diluted the promoter's stake percentage despite the absolute increase in holdings. His direct voting rights through equity shares dropped from 24.91% to 19.65%.
The significant capital expansion via preferential allotment dilutes existing shareholders' stakes. The promoter's voting stake (19.65%) remains well below the 50% threshold, indicating the company does not have a controlling promoter holding.