BSEDigilogic Systems LtdMediumNeutral
Announced Wed, 11 Feb · 15:19 IST

The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Negen Undiscovered Value Fund & Others

Creeping Acquisition Near ThresholdOwnership Changes View source PDF

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

Digilogic Systems Ltd's pre-IPO investor Negen Undiscovered Value Fund (NUVF), along with its Investment Manager Negen Capital Services and Director Neil Madan Bahal (together treated as persons acting in concert), received an allotment of 20,34,000 equity shares through the company's recent IPO. Before the IPO, these entities held 17,97,850 shares (8.08%). After the IPO allotment, their combined holding rose to 38,31,850 shares, which is 13.24% of the post-issue equity share capital. The acquirers confirmed they are not part of the promoter or promoter group. The disclosure was filed on a prudential basis under SEBI Takeover Regulations 29(1) and 29(2), as the aggregate holding crosses the 5% disclosure threshold and the per-acquisition change exceeds 2%. The company's equity share capital expanded from 2,22,52,630 to 2,89,51,030 shares post-issue.

Likely market impact

A non-promoter institutional investor (AIF) now owns over 13% of the company, meaning retail shareholders should expect more SEBI disclosure filings if this entity raises its stake further. With NUVF approaching key takeover thresholds, any significant buying from this group going forward could attract open offer obligations. For the stock, institutional ownership at this level adds some stability but also concentrates voting power with one investor group.