The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vivid Mercantile Ltd
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Vivid Mercantile Ltd, a non-promoter entity, acquired 1,52,00,000 equity shares of Darshan Orna Ltd through a Rights Issue on 27 November 2025. This increased its holding from 28,73,602 shares (5.75%) to 1,80,73,602 shares (18.06%). Darshan Orna's total share capital doubled from 5,00,29,335 to 10,00,58,670 equity shares as part of the rights issue. The disclosure is being filed under SEBI takeover regulations because Vivid Mercantile's stake crossed the 10% substantial shareholder threshold.
A non-promoter entity now holds nearly one-fifth of Darshan Orna after the rights issue. This is a passive increase (rights entitlement) rather than an open-market buy, so short-term price impact is likely limited, but investors should note the concentrated holding in a non-promoter corporate entity.