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, promoter of Balgopal Commercial Ltd, converted 14,00,000 warrants into equity shares on March 21, 2026 through a preferential allotment. His personal holding rose from 38,801 shares (0.16%) to 14,38,801 shares (6.12%) of the company. The combined promoter group holding increased from 45.43% to 50.39% of the total share capital, crossing the 50% majority threshold. The company's total equity share capital grew from Rs.19.01 crore to Rs.20.91 crore as a result of this warrant conversion. This is a promoter-driven acquisition, not an open market purchase, and the diluted share capital post-conversion stands at Rs.23.51 crore.
The promoter group now holds a clear majority (over 50%) in the company, which strengthens promoter control but reduces the free float available to public shareholders. This signals promoter commitment to the business, though the 50%+ holding may trigger additional SEBI compliance requirements going forward.