Disclosure received under Regulation 29(1) of SEBI (SAST) Regulations, 2011
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Non-promoter acquirers Guttikonda Rajasekhar and Guttikonda Vara Lakshmi acquired shares through a rights issue on 9 January 2026. Together they acquired 25,65,000 shares, representing 14.25% of the enhanced capital. Post-acquisition, Guttikonda Vara Lakshmi holds 10.98% and Guttikonda Rajasekhar holds 4.10%, taking their combined holding to roughly 15.12% of the company. The rights issue tripled the company's equity capital from Rs. 6 crore (60 lakh shares) to Rs. 18 crore (180 lakh shares). Both acquirers have confirmed they do not belong to the promoter or promoter group. The disclosure was triggered because their holdings crossed the 10% reporting threshold under SEBI SAST rules.
A non-promoter entity crossing the 10% mark is a notable development and could attract closer investor scrutiny. Shareholders should be aware of the 3x dilution from the rights issue, which will reduce earnings per share and alter existing ownership percentages. The combined ~15% minority stake gives the acquirers meaningful influence in shareholder decisions going forward.