The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Chaitanya Agrawal
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Chaitanya Agrawal (along with PACs including Piyush Agrawal, Ritu Agrawal, Amitabh Agrawal, and Ritu Investment Pvt. Ltd.) acquired 7,00,000 equity shares through conversion of convertible warrants. Chaitanya Agrawal's holding increased from 2.16% to 6.72% (acquiring 4,00,000 shares), while Amitabh Agrawal's holding increased from 0% to 3.42% (acquiring 3,00,000 shares). The shares were allotted at Rs. 102 per share (including Rs. 92 premium) upon payment of the balance 25% of the warrant issue price. Total promoter holding increased from 43.57% to 58.22% of the diluted share capital. The acquisition is via preferential allotment.
Promoter group stake increased significantly from 43.57% to 58.22%, strengthening promoter control. This is a positive signal for existing promoter-backed shareholders as the acquirers are converting warrants and increasing their commitment to the company.