The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sandeep Jindal
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Promoter Sandeep Jindal disclosed conversion of 14,00,000 warrants into equity shares of Balgopal Commercial Ltd on 21.03.2026 through a preferential allotment. His personal holding rose from 38,801 shares to 14,38,801 shares. Including Persons Acting in Concert (PACs), the promoter group's total holding increased from 86,35,812 shares (45.43%) to 1,05,35,812 shares, which is 50.39% of total share capital and 44.81% on a fully diluted basis. The company issued 14 lakh new equity shares, raising total share capital from Rs.19.01 crore to Rs.20.91 crore. About 26 lakh warrants remain outstanding for future conversion.
This signals promoter confidence and commitment, as the promoter group has now crossed the 50% majority shareholding threshold, strengthening their control over the company. However, 26 lakh warrants still remain outstanding and could dilute minority shareholders if converted in the future.