The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Mrigashish Investment & Trading Company Pvt Ltd & PACs
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Mrigashish Investment & Trading Company Private Limited acquired 1,045,264 equity shares (16.81%) of Automobile Products of India Ltd through a Rights Issue. The acquisition took place on April 28, 2026 (allotment date). Before this transaction, the acquirer held 53,900 shares (1.12%). After the acquisition, their holding increased to 1,099,164 shares (17.68%). Six entities were identified as Persons Acting in Concert (PACs) including Axiom Constructions LLP, Hedavkar Mechanical Works LLP, and others. Importantly, the acquirer has clarified that it does not belong to the Promoter/Promoter group of the company. The company's total equity share capital increased from Rs. 48,17,656 to Rs. 62,17,071 post-acquisition.
A non-promoter entity has substantially increased its stake to 17.68%, bringing it closer to the 25% threshold that would trigger mandatory open offer requirements under SEBI SAST regulations. This represents a notable increase in public shareholding concentration.