Dear Sir, We are enclosing herewith a disclosure under Regulation 29(2) of the SEBI Takeover Code, 2011 received from Mr. Vishal Chordia, a member of promoter group and acquirer.
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Mr. Vishal Rajkumar Chordia, a promoter and acquirer at Aveer Foods Ltd, has been allotted 2,26,087 equity shares on 11th March 2026 by exercising warrants that were originally issued to him on 20th March 2025. This increases his individual holding in the company from 13.43% to 17.80% on a diluted basis (a rise of about 4.37%), while his father and co-promoter Mr. Rajkumar Hukmichand Chordia continues to hold 17,75,807 shares (39.63% diluted). Combined promoter group holding post-allotment stands at 25,73,152 shares, representing 57.43% of the diluted share capital, up marginally from 55.17% before the allotment. The company's paid-up equity capital has expanded from Rs. 4.25 crore (42,54,339 shares) to Rs. 4.48 crore (44,80,426 shares) of Rs. 10 face value each. The acquisition was via preferential allotment on warrant exercise, not an open market purchase.
This is a positive commitment signal as the promoter is converting warrants into shares, demonstrating continued belief in the company's prospects. For existing non-promoter shareholders, this leads to a marginal dilution of about 5% since the share count expanded. The promoter group remains firmly in control with over 57% stake, and no open offer obligation is triggered since the acquisition is within the 5% creeping limit allowed for promoters.