Selan Exploration Technology Limited has informed the Exchange regarding 'Form C under Regulation 7(2) of SEBI Prohibibiton of Insider Trading Regulations, 2015'.
ANTELOPUS · price
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Promoter Blackbuck Energy Investments Limited was allotted 1,99,59,703 equity shares (~1.99 crore) of the company pursuant to a Composite Scheme of Arrangement merging Antelopus Energy Private Limited into Selan Exploration Technology Limited. As a result, the promoter's stake increased sharply from 30.46% (46,30,570 shares) to 69.93% (2,45,90,273 shares). The scheme was approved by the NCLT Chandigarh Bench in June-July 2025. The allotment was carried out on August 12, 2025, and disclosed to the stock exchanges on August 14, 2025. The acquisition was via a court-approved scheme of amalgamation, not through open market purchases.
The promoter group has moved from a minority to a controlling majority position, crossing the 50% threshold significantly. While this consolidates promoter control, it is the result of a pre-approved corporate restructuring (merger) rather than a fresh market purchase, so it does not trigger mandatory open offer obligations. Existing minority shareholders now hold a smaller proportional share of the merged entity.