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.
Deniis Desai, belonging to the promoter group of Devinsu Trading Limited, was allotted 80,000 equity shares on January 8, 2026 through a preferential allotment at Rs. 10 face value plus a Rs. 340 premium per share. His earlier holding of 91,493 shares (18.30%) acquired under a Share Purchase Agreement with Sunshine Fibre Private Limited dated July 9, 2025 — which also triggered a mandatory open offer that has since been completed — has now increased to 1,71,493 shares (29.17%). The company's total share capital expanded from 5,00,000 to 5,88,000 equity shares (Rs. 58.80 lakh). The preferential allotment is part of a broader promoter consolidation, with the open offer formally concluded prior to this latest disclosure.
This is a clear promoter stake build-up, with Deniis Desai's holding rising sharply from 18.30% to 29.17%, very close to the 30% SAST threshold, which may keep the stock in focus. For minority shareholders, the promoter is signaling confidence by infusing more capital at a significant premium, though dilution from the preferential issue has reduced everyone else's proportional holding.