The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kanchan Daga
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Kanchan Daga, along with persons acting in concert (Varun Daga Family Trust and Shreans Daga Family Trust), has acquired a 9.64% stake (13,37,498 equity shares) in Denis Chem Lab Ltd via an off-market inter-set transfer on March 27, 2026. The acquirer had no prior holding in the company, and importantly, is not part of the promoter or promoter group. Kanchan Daga individually holds 5.78%, with each of the two family trusts holding 1.93% as PACs. The disclosure is being made under Reg 29(1) for crossing the 5% acquisition threshold.
Since the acquirer is not a promoter, this does not change the promoter shareholding pattern. However, a non-promoter entity now holding 9.64% puts them just below the 10% takeover threshold, which could trigger open offer obligations if they cross 10%. Shareholders should watch for any further acquisitions by this group that could trigger a mandatory open offer.