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, who is not part of the promoter or promoter group, has acquired 30,001 equity shares of Delta Industrial Resources Ltd through an open market purchase on September 2, 2025. After this acquisition, his total holding stands at 4,45,467 shares, representing 8.26% of the company's paid-up equity capital (53,93,000 shares of Rs.10 each). The disclosure lists a series of open market purchases made between March 2025 and September 2025, with individual buys ranging from about 0.32% to 1.39% of the capital, all kept under the 5% creeping acquisition limit. The acquirer is inching closer to the 10% open offer trigger threshold under SEBI takeover rules.
This is a non-promoter steadily building a sizeable stake in a small-cap company through repeated small open market buys, and is now nearing the 10% SAST disclosure threshold. If he crosses 10%, he may be required to make an open offer to other shareholders, which could be a near-term overhang or volatility trigger for the stock.