DISCLOSURE UNDER REGULATIONS 29(1) OF SEBI (SAST) REGULATIONS, 2011
Awaiting price reaction for this filing.
Two entities belonging to the Promoter group acquired substantial stakes in Valecha Engineering through equity share allotments. Aether Perspectives LLP received 99,13,211 shares (44%) and JK Solutions Private Limited received 1,14,90,313 shares (51%) on 27 December 2024. Combined, these entities now hold 95% of the company. The acquisition was made through an NCLT-approved Resolution Plan dated 25 June 2024. Both entities disclosed their holdings under SEBI takeover regulations as the aggregate allotments exceeded the 5% disclosure threshold. The total equity capital remains at 2,25,30,025 shares of Rs 10 each.
JK Solutions now holds majority control (51%) of Valecha Engineering, with Aether Perspectives contributing to a combined Promoter holding of 95%. This represents a significant restructuring of the company's shareholder base through the insolvency resolution process.