The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Lalit Malik
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Lalit Malik, a non-promoter acquirer, has disclosed the acquisition of 2,68,272 equity shares (8.71%) of CDG Petchem Ltd through the open market on 25 March 2025. Prior to this acquisition, he held no shares in the company, and after the deal his total holding stands at 2,68,272 shares representing 8.71% of the equity share capital. The total equity capital of CDG Petchem is Rs. 3.08 crore, comprising 30,77,500 shares of Rs. 10 each. This is a Regulation 29(1) SAST disclosure triggered by a non-promoter crossing the 5% creeping acquisition threshold in a financial year.
A new non-promoter entity now holds nearly 8.71% of the company, which is close to the 10% disclosure threshold under takeover regulations. Retail investors should monitor any further accumulation by Lalit Malik, as crossing 10% would trigger additional open offer obligations, potentially affecting stock price and control dynamics.