The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ashish Kacholia & PACs
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On the reaction day the stock moved 10.7 pts more than Nifty Microcap 250 and 11.1 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Investor Ashish Kacholia along with Persons Acting in Concert (RBA Finance, Dar's Business Finance, Everest Finance) acquired 6,19,600 equity shares (6.74%) of Cosmic CRF Ltd through a preferential allotment dated March 10, 2025. After this acquisition, Kacholia's total holding rose to 16,90,400 shares, taking his stake from 11.65% to 18.40% of the paid-up equity capital. The disclosure was filed under Regulation 29(2) of SEBI Takeover Regulations as the change in shareholding crossed the 2% reporting threshold. The acquirer has explicitly confirmed he is NOT part of the promoter or promoter group. Cosmic CRF's total equity share capital expanded from 81.98 lakh to 91.88 lakh shares following the preferential issue. Notably, the disclosure was filed on June 9, 2025, almost three months after the actual allotment date.
Ashish Kacholia is a well-known investor, and a significant preferential allotment to him is generally viewed as a confidence signal, though this was a pre-arranged issue rather than open-market buying. The delayed disclosure (March 10 allotment vs June 9 filing) is a minor compliance lapse worth noting. Existing shareholders may see dilution from the preferential issue alongside the new institutional backing.