The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ronak Jain & Others
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Ronak Jain, along with family members Sarita Jain, Priyanka Jain, KK Impex and Trading Pvt Ltd (acquirers) and PACs Karan Jain, Karishma Rohit Jain, and Radhika Karan Jain, have acquired 8,50,00,000 equity shares (27.28% of total share capital) of Asgard Alcobev Ltd through an off-market Share Purchase Agreement dated 17 December 2025. The purchase happened in two equal tranches of 4.25 crore shares each on 12 March 2026 and 13 March 2026. Post-acquisition, the acquirer group's voting holding has jumped from 32.30% to 59.59% (62.25% on a fully diluted basis, including 2.2 crore warrants). Though currently classified as public shareholders, the group has already issued a public announcement for an open offer on 17 December 2025, after which they will be reclassified as promoters of the company.
This is effectively a change-of-control transaction. The acquirer group will hold a majority stake and be reclassified as promoter after the open offer, which will trigger a mandatory open offer to public shareholders for additional shares. The stock may see significant price action and volatility around the open offer process.