The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Meenakshi Mercantiles Ltd & PACs
BALRAMCHIN · price
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The promoter group of Balrampur Chini Mills Ltd, led by Meenakshi Mercantiles Ltd along with PACs (including Vivek Saraogi, Saraogi Family Trust, Udaipur Cotton Mills, Novel Suppliers, and other Saraogi family entities), disclosed an acquisition of 12,50,000 shares (0.59% of total share capital) under SEBI's Takeover Regulations. Before the acquisition, the promoter group's total holding stood at 8,65,45,753 shares (42.85% of the company), broken into 64,84,233 unencumbered voting shares (3.21%) and 8,00,61,520 encumbered shares (39.64%) held as pledge/lien. Post this acquisition, the promoter group's effective stake rises to roughly 43.44% of Balrampur Chini Mills.
Marginal promoter stake increase signals promoter confidence, but shareholders should note that a very large portion (~39.64%) of the promoter holding is pledged/encumbered, which remains a key risk factor. The 0.59% acquisition is too small to materially change share price dynamics on its own.