The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Bhavesh Dhirajlal Tanna
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Promoter Bhavesh Dhirajlal Tanna was allotted 4,50,000 equity shares and 15,50,000 convertible warrants by the Board on 24th February 2026 through a preferential basis issue. His direct equity holding rose from 3,90,000 shares (2.84%) to 8,40,000 shares (5.86% on non-diluted basis). Including the warrants, his aggregate potential holding climbs to 23,90,000 shares representing 13.82% of the company's diluted share capital. The disclosure has been filed under Regulation 29(2) of the SEBI Takeover Regulations, triggered because his stake crossed the 5% and 10% thresholds.
This is a positive signal of promoter confidence and commitment, as the promoter is putting more skin in the game through a preferential allotment rather than a market sale. For shareholders, this means increased promoter alignment, though it also leads to dilution from the new equity and warrant issuance.