The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Nirmal Jain
AFIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Promoter Nirmal Kumar Jain has acquired 1 crore Fully Convertible Warrants through preferential allotment at INR 7 per warrant (including INR 6 premium). The warrants have face value of INR 1 each and can be converted into equity shares later. His total holding after acquisition is 22.61% of diluted capital, comprising 19.65% in equity shares and 2.96% in warrants. The company's share capital increased from INR 42.67 crore to INR 58.04 crore due to this warrant issuance, diluting his percentage holding in shares even though the absolute share count remained unchanged. Acquisition date is May 21, 2026.
This represents significant promoter confidence in the company, with warrants providing future upside at INR 7 per share. The dilution of shareholding percentage from 26.74% to 19.65% is normal in warrant structures, but the expanded warrant holding shows increased commitment. Retail investors may view this as a positive signal for capital raising plans.