The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for MOVI Ltd
ESTER · price
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MOVI Limited, along with promoter group entities and individuals (Arvind Singhania, Uma Devi Singhania, Ayush Vardhan Singhania, Jai Vardhan Singhania, Fenton Investments Pvt Ltd, Modi Rubber Ltd, and Wilemina Finance Corp), acquired 25,31,645 equity shares of Ester Industries Ltd through conversion of fully convertible warrants on April 30, 2025. This increased the promoter group's combined holding from 62.41% to 62.73% of the total share capital (61.84% on a diluted basis). MOVI Limited's individual stake rose from 3.51% to 5.97%. The company's total share count increased from 9,40,41,889 to 9,75,86,191 equity shares of Rs. 5 each as a result of this allotment.
This is a promoter-group stake increase via warrant conversion, signaling the Singhania family's continued commitment and confidence in Ester Industries. Since the acquisition is by the promoter group, it does not trigger any open-offer requirement. The slight increase in promoter holding is mildly positive for retail investors as it reduces free-float and indicates insider confidence.