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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Sandeep Jindal, the Promoter of Balgopal Commercial Ltd, acquired 23,38,000 equity shares through the conversion of warrants that were originally allotted on a preferential basis on 06.06.2026. This increased his individual stake from 6.88% to 16.25% of the company's share capital. Together with Persons Acting in Concert (PAC), the promoter group's combined holding rose from 1,05,35,812 shares (50.39%) to 1,28,73,812 shares (55.38%), pushing their shareholding above the 55% mark. The company's total equity share capital expanded from Rs. 20.91 crore to Rs. 23.25 crore due to this conversion.
This is a promoter stake increase through warrant conversion, not an open market purchase, so it has limited direct impact on stock price. However, it signals the promoter's continued confidence and increases their effective control above 55%, which could reduce free float and limit future acquisition flexibility.