The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Constructive Finance Pvt Ltd & Onkar Kanwar
ARTEMISMED · price
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On the reaction day the stock moved 3.5 pts more than Nifty Microcap 250 and 4.1 pts more than its Hospital peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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International Finance Corporation (IFC) was allotted 1,89,62,247 equity shares of Artemis Medicare Services on November 15, 2025, upon conversion of 33,000 Compulsorily Convertible Debentures (CCDs) of face value Rs. 1,00,000 each. As a result, the company's paid-up equity capital increased from Rs. 13.92 crore to Rs. 15.82 crore. Promoters (Onkar Kanwar and Constructive Finance Pvt Ltd) did not buy or sell any shares — their absolute holding stayed unchanged at 9,24,30,790 shares, but their stake percentage diluted from 66.38% to 58.43%. IFC now holds roughly 12% of the expanded equity base, taking it above the 10% FII threshold. An existing Non-Disposal Undertaking (encumbrance) over 4,11,59,625 shares (26% on diluted basis) held by Constructive Finance in favour of IFC under the April 2024 Share Retention Agreement remains in place.
No change in promoter absolute holdings — dilution is purely from IFC converting its debentures, so existing shareholders should not see negative pressure from this event. However, promoter stake has dropped meaningfully (from ~66% to ~58%), bringing them closer to the 50% mark, and IFC has crossed the 10% foreign holding threshold, which may trigger additional disclosure obligations.