The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Tusk Investments Ltd
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Tusk Investments Ltd (a public-category shareholder, not part of the promoter group) has acquired 2,95,566 equity shares of Duroply Industries Ltd on 3rd November 2025 through conversion of warrants after paying the balance 75% of the issue price, amounting to Rs 4,49,99,923. This raises Tusk's holding from 3,99,960 shares (4.06%) to 6,95,526 shares (6.41%) of Duroply's voting capital. The company's total share capital expanded from 98,63,078 to 1,08,48,298 shares following the warrant conversion allotment. Tusk Investments is classified as a public-category shareholder, not a promoter.
A non-promoter public shareholder increasing its stake from 4.06% to 6.41% signals growing institutional/investor confidence in Duroply Industries. However, since this is a pre-committed warrant conversion (not a fresh open-market purchase), it is unlikely to cause immediate stock price movement but does indicate dilution for existing shareholders due to the expanded share base.