The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ilex Investment Pvt Ltd
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Ilex Investment Pvt Ltd, a non-promoter entity, has disclosed the conversion of 250,000 share warrants into equity shares of Fervent Synergies Ltd on April 3, 2025, via preferential allotment. After the conversion, Ilex Investment's holding stands at 24,25,000 shares, representing 4.85% of the expanded share capital. The total share capital of Fervent Synergies increased from 4,37,50,000 shares to 5,00,00,000 shares (of Rs. 10 each) as a result of this warrant conversion. The disclosure was signed by Madhavi Parekh, Director of Ilex Investment Pvt Ltd.
This is a routine warrant conversion disclosure by a non-promoter shareholder, with no impact on promoter holding or control of the company. The marginal increase in Ilex Investment's stake (from 4.35% to 4.85% on diluted basis) reflects equity dilution from the conversion rather than a fresh market purchase, and is unlikely to materially affect the stock price.