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
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Minerva Ventures Fund, a Mauritius-based fund, has disclosed acquisition of 1,35,60,838 equity shares (8.4835%) in Elitecon International Ltd under SEBI SAST Regulation 29(2). The shares were acquired through a warrant issue on 26th September 2024. Before this acquisition, the fund held NIL shares, meaning this is a fresh entry into the company. The acquirer has confirmed it does not belong to the promoter or promoter group. The total equity capital of Elitecon International remains at 1,59,85,00,000 shares of Rs. 10 face value.
A new foreign institutional investor has entered the company with a sizeable 8.48% stake, which could improve float and institutional interest. Since the holding is close to the 10% SAST disclosure threshold, any further purchase by this fund will require additional disclosures to the exchange.