The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Varun Daga
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Mr. Varun Daga, a non-promoter shareholder of Denis Chem Lab Ltd, has disclosed an off-market sale of his entire 9.64% stake (13,37,498 equity shares) in the company. Before the transaction, he held 9.64% of the paid-up equity share capital (Rs. 13.87 crore, comprising 1,38,76,668 shares of Rs. 10 each). After the transaction on March 27, 2026, his holding has gone to NIL, indicating a complete exit from the company. The transfer was carried out off-market, and the identity of the buyer is not disclosed in this filing.
This represents a complete exit by a significant non-promoter shareholder who was just below the 10% SAST disclosure threshold. Since it is an off-market transfer, the shares have moved to another holder rather than the open market, so there is no immediate impact on stock price or float. Retail investors should watch for a separate disclosure from the acquirer to understand who has picked up this 9.64% stake.