The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for 3 Sigma Global Fund
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3 Sigma Global Fund (a Mauritius-based entity, not part of the promoter group) has disclosed the conversion of 2,15,550 warrants into equity shares of Azad India Mobility Limited on March 28, 2025. After the conversion, the fund holds 75,00,000 equity shares, representing 21.32% of the total share capital and 15.27% of the diluted share capital. There is no actual fresh purchase — the fund merely converted instruments it already held, so its overall economic interest stays the same while its percentage slightly dipped due to an increase in the company's total share count from 3.41 crore to 3.52 crore shares.
This is a routine technical conversion of warrants to shares, not a new investment or stake change. No fresh capital is being deployed, and there is no immediate trigger for any open offer. Existing shareholders should note that a foreign fund now holds over 15% on a diluted basis, which is a notable non-promoter, non-retail concentration in the company.