The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pragya Mercantile Pvt Ltd & PACs
ASHIKA · price
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Pragya Mercantile Private Limited, along with its Persons Acting in Concert (PACs), has acquired 21,00,000 equity shares of Ashika Credit Capital Ltd through conversion of warrants into equity shares under a preferential allotment, with allotment dated 18 March 2025. As a result, the combined promoter group holding has risen from 14,00,000 shares (5.56% of total share capital) to 35,00,000 shares (8.74% of total share capital). The company's total paid-up equity capital also expanded from Rs 25.19 crore (2,51,89,000 shares) to Rs 33.11 crore (3,31,07,800 shares) due to the allotment. The PAC group includes directors Tulsi Kumar Dugar, Rachita Dugar, Rishabh Dugar, three Dugar family HUFs, and other promoter-group entities like Glaxo Finance and Maryada Barter.
This is a positive signal for shareholders as the promoter group is strengthening its stake in the company, showing confidence in the business. The preferential allotment has also expanded the company's equity base, though it results in some dilution for existing shareholders. The promoter holding approaching the 10% SAST threshold means any further acquisitions may trigger additional disclosure requirements.