The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Varigate Advisory Services (P) Ltd

Varigate Advisory Services (P) Ltd, along with Persons Acting in Concert (PAC) Sanjay Otawat, has disclosed a disposal of 200 equity shares of Arman Holdings Ltd (Scrip code: 538556) on December 15, 2025, via the open market. Before the sale, Varigate held 247,600 shares (4.75%) and Sanjay Otawat held 247,500 shares (4.75%), giving a combined holding of 9.50%. After the sale, their individual holdings remain effectively unchanged at 4.75% each, with the combined holding still at 9.50% due to the negligible size of the transaction. The seller does not belong to the promoter or promoter group. The total equity share capital of Arman Holdings Ltd remains 52,10,500 shares of face value Rs. 10 each.