The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vijay Thakkar & Ilex Investment Pvt Ltd
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On the reaction day the stock moved 5.6 pts more than Nifty Microcap 250 and 2.6 pts more than its Trading & Distributors peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Fervent Synergies Limited informed BSE about the conversion of share warrants into equity shares on April 3, 2025, by two allottees. Promoter Vijay P. Thakkar converted 60,00,000 warrants into equity shares, raising his holding from 2,51,50,000 shares (57.49% of voting capital) to 3,11,50,000 shares (62.30%). Non-promoter Ilex Investment Pvt Ltd converted 2,50,000 warrants into shares, taking its holding from 21,75,000 shares (4.97%) to 24,25,000 shares (4.85%) on a diluted basis. The company's total equity share capital expanded from 4,37,50,000 shares to 5,00,00,000 shares of Rs. 10 each. The mode of acquisition is preferential allotment through warrant conversion.
Promoter Vijay P. Thakkar has further consolidated his control in the company, with his voting stake crossing 62%, strengthening promoter grip on the company. The dilution for non-promoter allottee Ilex Investment was marginal, indicating the main equity expansion benefits the promoter group. Shareholders should note increased promoter concentration post-allotment.