The Exchange has received the revised disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Mrigashish Investment & Trading Company ....
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Mrigashish Investment & Trading Company Private Limited, a non-promoter entity, has disclosed a major stake increase in Automobile Products of India Ltd through a Rights Issue. The acquirer purchased 1,045,192 equity shares (16.81%) on April 28, 2026 (allotment date), raising its total holding from 53,900 shares (1.12%) to 1,099,092 shares (17.68%). Six entities are listed as Persons Acting in Concert (PACs): Axiom Constructions LLP, Hedavkar Mechanical Works LLP, Kalpataru Energy (India) LLP, Klassik Vinyl Products LLP, PKVelu And Company Private Limited, and Yugdharm Investment And Trading Company Private Limited. The company's equity capital expanded from Rs. 48,17,656 to Rs. 62,17,071 due to the rights issue. No pledges or encumbrances were reported.
A non-promoter entity accumulating a near-18% stake via rights issue could signal intent to build influence. The concentration of PACs warrants monitoring for potential creeping acquisition activity, though the current stake remains below the 25% open offer trigger.