Disclosure under Reg 29 (1) of SEBI (SAST) Regulations, 2011 has been attached herewith.
Awaiting price reaction for this filing.
Mr. Jatinbhai Ramanbhai Patel, along with Persons Acting in Concert (Mrs. Rinkal Jatinbhai Patel and Mrs. Vandana Hiteshbhai Patel), has acquired 9,50,000 equity shares (95%) of PAE Limited. Before this acquisition, the acquirer and PACs held nil shares. Post-acquisition, Jatinbhai Patel holds 5% and PACs hold 90%, totaling 95% of the company. This acquisition was carried out pursuant to a Resolution Plan approved by the NCLT Mumbai Bench on 27th November 2024 under Section 31 of the Insolvency and Bankruptcy Code, 2016. The board meeting approving the allotment was held on 14th April 2025. PAE's total equity share capital post-acquisition is 10,00,000 shares of Rs. 10 each, aggregating to Rs. 1 crore.
PAE has effectively come out of the insolvency resolution process with a new promoter group now controlling 95% of the company. The stock may see re-rating interest as IBC exits often attract renewed investor attention, but the very low floating share capital (only 5% non-promoter) means trading liquidity will be extremely thin on BSE.