The Exchange has received the disclosure under Regulation 29(1) / 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vatsal Agarwaal
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Vatsal Agarwaal, a non-promoter individual, has acquired 1,00,000 equity shares of Delta Industrial Resources Ltd through open market purchases on September 29 and September 30, 2025 (50,000 shares each day). His holding in the company has increased from 8,02,007 shares (14.87%) to 9,02,007 shares (16.73%), a jump of about 1.86 percentage points in just two days. The shares were bought at the prevailing market price on the BSE and MSEI, and the company's total paid-up equity capital remains 53,93,000 shares of Rs. 10 each (Rs. 5.39 crore). This is a creeping acquisition by a non-promoter, who still remains well below the 25% threshold that would trigger a mandatory open offer.
This is a non-promoter share accumulation rather than insider buying, so it does not directly signal management confidence. However, a single buyer quietly raising his stake from 14.87% to 16.73% in two days indicates rising outside interest in the stock, and retail investors should watch whether further purchases push him toward the 25% open-offer trigger level.