The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Chirayu Agrawal
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Chirayu Agrawal, promoter of Annvrridhhi Ventures Ltd (formerly J. Taparia Projects Limited), sold 6,59,199 rights entitlements through an open market transaction on 9 May 2025. This represents 2.03% of the company's share capital. His direct equity holding of 41,56,798 shares (25.66% of voting capital) stayed unchanged before and after the deal — only the rights entitlements were disposed of. His total combined holding (shares plus entitlements) fell from 16.49% to 15.14% of the post-rights paid-up capital. The disclosure was filed under Regulation 29(2) of the SEBI Takeover Regulations because the 2% creeping threshold was crossed. No pledged or encumbered shares were involved.
Existing shareholders are not directly diluted by an equity sale — the promoter only sold rights entitlements, not actual shares, so voting control and existing shareholding remain intact. However, the move suggests the promoter is not subscribing in full to the rights issue, which may be viewed mildly negatively by the market as it reduces the promoter's potential future stake.