The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Minerva Ventures Fund
ELITECON · price
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Mauritius-based Minerva Ventures Fund has disclosed an acquisition of 1,36,10,000 equity shares (8.521%) of Elitecon International Ltd under SEBI SAST Regulation 29(2). Before this transaction, the fund held NIL shares in the company. The acquisition was made through a warrants issue dated 26th September 2024, and the filing has been made on 15th May 2025. Elitecon's total equity capital remains unchanged at 15,97,10,000 shares of Rs. 10 face value. The acquirer is not part of the promoter/promoter group and the shares are listed only on BSE.
A new foreign fund has taken a meaningful 8.52% stake via preferential warrants, indicating promoter dilution or fundraising from a new institutional investor. Shareholders should monitor further disclosures, as any future purchase pushing holding above 10% would require additional filings.