The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Minerva Ventures Fund
ELITECON · price
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Mauritius-based fund Minerva Ventures Fund has disclosed the acquisition of 13,70,88,605 equity shares in Elitecon International Ltd, representing 8.5761% of the company's total voting share capital. The shares were acquired through a combination of warrant issue and open market purchases on February 27, 2026. Prior to this acquisition, Minerva Ventures Fund held no shares in the company. The acquisition was carried out by a non-promoter entity and takes the acquirer's total holding to 8.5761%, approaching the 10% threshold that would trigger a mandatory open offer under SEBI Takeover Regulations.
A foreign institutional investor entering with an 8.58% stake is a significant vote of confidence and may boost stock sentiment. Shareholders should note that any further acquisition crossing the 10% mark would require a mandatory open offer, potentially affecting share price dynamics.