The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Manashavee Nimesh Joshi & PACs
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Awaiting price reaction for this filing.
Manashavee Nimesh Joshi, along with persons acting in concert (Nimesh S Joshi, Rashmi Nimesh Joshi, Dhruvil Nimesh Joshi), has disclosed an acquisition of 51,000 equity shares (0.13% of share capital) in Azad India Mobility Ltd through a preferential allotment dated 20.05.2025. The shares were allotted at par with existing equity shares. After this acquisition, the combined PAC holding stands at 97,51,125 shares, representing 24.09% of total voting capital and 17.91% of diluted capital. The company's share capital increased from Rs. 35.18 crore to Rs. 40.49 crore through this preferential allotment. The acquirers are not classified as part of the promoter/promoter group.
This is a non-promoter preferential allotment with a relatively small stake (0.13%), so it has limited direct impact on the stock price. However, the combined PAC holding of 24.09% places them just below the 25% open offer trigger threshold, which investors should monitor for any further acquisitions.