The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ashika Global Securities Pvt Ltd
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Ashika Credit Capital Ltd allotted a total of 18,54,964 equity shares to Non-Promoters on 30.04.2025 and 02.05.2025, following the conversion of an equal number of convertible warrants held by them. This increased the company's total equity share count from 3,73,35,000 shares to 3,81,90,464 shares (a diluted total of 3,99,90,464 shares assuming full warrant conversion). The promoter and promoter group's holding percentage has come down as a result, even though their absolute share count has not changed. The disclosure has been filed under SEBI takeover regulations to report this passive reduction in promoter stake due to dilution.
This is not an active sale by promoters — it's a technical dilution caused by non-promoters converting warrants into shares. Existing shareholders may see their proportional ownership marginally reduced, but there is no cash outflow from the company to promoters and no change in promoter control.