The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Solace Investments & Financial Services Pvt Ltd & Others
BLUECOAST · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Suri family promoter group (11 investment companies and 47 PACs including Suri family members and associates) has increased its stake in Blue Coast Hotels from 71.37% to 74.93% through conversion of 2,48,710 Compulsorily Convertible Preference Shares (CCPS) into 24,87,100 equity shares on May 13, 2026. Each of the 11 companies received 2,26,100 shares (1.15% each) upon conversion. The company's equity share capital increased from Rs 17.19 crore (1.72 crore shares) to Rs 19.68 crore (1.97 crore shares). Separately, Ms. Sunita Suri and Ms. Mamta Suri (PACs) each sold 10,000 shares on May 8, 2026. The filing confirms all acquirers belong to the promoter/promoter group.
Promoter holding has strengthened to nearly 75%, which is significant as crossing the 75% threshold would trigger mandatory open offer requirements under SEBI SAST Regulations. The CCPS conversion represents dilution-free accumulation by existing promoters rather than new acquisition from market.