The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Parth Patel
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Parth Tulsibhai Patel, Director and CFO of Emrock Corporation Ltd (formerly Vaghani Techno-Build Ltd), has acquired 13,86,000 equity shares (face value Rs. 10 each) on 11 December 2025 through conversion of warrants into equity shares. This acquisition represents 12.81% of the total paid-up capital, for a total consideration of Rs. 1,52,46,000. Post-acquisition, his direct voting rights shareholding stands at 24.57%, while combined holding (shares + warrants) remains at 64.78% of the company. The company's total paid-up equity capital has expanded from Rs. 5.22 crore to Rs. 10.82 crore as a result of this conversion.
This is a non-cash, structural increase for the promoter (warrants converted into actual equity), so there is no fresh promoter outflow. However, the expanded share base dilutes existing shareholders' proportional stake by roughly half, even though the promoter's absolute control remains unchanged.