The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Bupinder Singh Chadha & Others
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Promoter Bupinder Singh Chadha has acquired 29,30,000 equity shares (7.24% of pre-acquisition capital) of Azad India Mobility Ltd through conversion of warrants via preferential allotment on 07.08.2025. The mode of acquisition is conversion of 29.30 lakh warrants into equity shares at par. After this acquisition, Bupinder Singh Chadha's direct holding rose to 38,02,077 shares (7.71%), while he still holds 12,70,000 warrants. Total promoter group holding (along with PAC Charnjit Singh Chadha) stands at 84,53,462 shares, representing 17.15% of total share capital and 15.52% of diluted capital. The total share capital of the company increased from Rs.40.49 crore to Rs.49.30 crore as a result of this warrant conversion.
This is a positive signal for retail investors as it shows promoter confidence through fresh equity infusion via warrant conversion rather than an open market sale. Promoter holdings in absolute terms have increased, indicating long-term commitment, though the overall percentage appears diluted due to the increased total share base.