The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Deniis Desai
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Awaiting price reaction for this filing.
Sunshine Fibre Private Limited, identified as the promoter of Devinsu Trading Limited, has sold its entire holding of 91,493 equity shares (18.30% of voting capital) to Deniis Desai through an off-market Share Purchase Agreement dated July 9, 2025. The deal was consummated on December 20, 2025, with shares formally transferred on December 23, 2025. As a result of this transaction, Sunshine Fibre's holding in Devinsu Trading has gone from 18.30% to nil. The acquirer's promoters overlap with those of the target company, and the size of the transaction has triggered an open offer obligation under SEBI Takeover Regulations. Devinsu Trading's total share capital remains Rs. 50 lakh (5,00,000 shares of Rs. 10 each).
This is a significant promoter exit that takes the promoter's stake in Devinsu Trading to zero, effectively changing the ownership profile of the company. The triggered open offer gives existing retail shareholders a chance to tender their shares, which could put short-term pressure on the stock price depending on the offer price and response.