The Exchange has received the disclosure under Regulation 18(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ronak Jain
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Mr. Ronak Jain, the Acquirer, has disclosed acquisition of 11,38,932 equity shares (0.37% stake) from public shareholders at Rs. 1.45 per share during the tendering process of an Open Offer. Additionally, 50,00,000 warrants were also acquired. Following this acquisition, Ronak Jain's individual holding increased from 37.82% to 38.19% of the company's share capital. The total holding of acquirers and persons acting in concert (PACs) increased marginally from 59.59% to 59.95%, while warrant holdings remained unchanged at 2,20,00,000 (6.60%). The acquisition was made during the Open Offer process, with prior disclosures made in the Public Announcement dated 17.12.2025 and Detailed Public Statement dated 22.12.2025.
The open offer acquisition adds a small 0.37% stake to the acquirer's position, bringing total promoter/PAC holding to just under 60%. This incremental purchase through the open offer mechanism represents a creeping acquisition strategy, as the acquirer continues to build stake through market purchases alongside the open offer.