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
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Awaiting price reaction for this filing.
The promoter group of Blue Coast Hotels Ltd, led by Solace Investments & Financial Services Pvt Ltd along with 10 other group entities, has acquired 35,57,041 additional shares (20.69% of total share capital) through a coordinated purchase. Each of the 11 promoter entities bought 2,32,000 shares, representing 1.35% of share capital individually. After this acquisition, the promoter group's combined holding rises from about 66.38% to a higher level, with warrants potentially taking total voting exposure to around 74.99% on a diluted basis. The disclosure was filed because the acquisitions crossed the 2% aggregate threshold for promoter group purchases requiring disclosure. This indicates promoter consolidation and strengthening of control in the company.
Positive signal for shareholders as promoters are increasing their stake, showing confidence in the company. However, such concentrated buying can also reduce public float and liquidity in the stock.