The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pankaj Dawar & Utsav Securities Pvt Ltd
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Pankaj Dawar, acting in concert with Utsav Securities Pvt Ltd, acquired 1,44,500 equity shares of Bazel International Ltd on 3rd February 2023, representing 9.09% of the company's total voting share capital. Prior to this acquisition, the acquirer held zero shares in the company, so this is a fresh entry. The total equity share capital of the company increased from 14,55,000 to 15,99,500 shares, indicating the shares were likely issued (possibly preferential allotment or similar) rather than purchased from the open market. The acquirer is not part of the promoter/promoter group, making this a non-promoter acquisition.
A non-promoter entity crossing near the 10% disclosure threshold introduces a new substantial shareholder, which may be viewed as a positive signal if the stake builder is seen as a strategic or value investor. However, it could also raise governance or concentration concerns among existing retail shareholders.