The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ankit Sangwan & Others
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Ankit Sangwan (along with PACs Krishan Kumar Sangwan and Sukhwanti Sangwan) acquired 12,28,079 equity shares through conversion of fully convertible warrants on May 11, 2026. This is a preferential allotment/allotment under a warrants conversion arrangement, not a market purchase. The acquirer was already holding 55,921 shares (0.94% of diluted capital) before this transaction. After the conversion, their total holding increased to 12,84,000 shares representing 9.50% of the expanded share capital. The total diluted share capital expanded from 59,19,978 shares to 1,35,19,978 shares due to the warrant conversion. The acquirer has confirmed they do not belong to the Promoter/Promoter Group of the company.
This is a warrant conversion dilution event rather than a traditional open market acquisition. The share count nearly doubled from ~59 lakh to ~1.35 crore shares, meaning existing shareholders faced significant dilution. The acquirer's 9.50% stake remains below SEBI's 10% disclosure threshold and well below the 25% open offer trigger.