The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Bela Gajra & PACs
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Bela Gajra, part of the promoter group of GG Automotive Gears Ltd, along with 10 persons acting in concert (including Managing Director Kennedy Ram Gajra), has acquired 4,90,000 equity shares through the conversion of warrants. This represents 4.90% of the total share capital. Before the conversion, the promoter group's total holding stood at 16.50% (comprising 11.34% equity shares and 5.16% warrants). After the conversion, their equity holding stands at 15.69% with no warrants remaining. The company's total equity share capital increased from 95,00,000 shares to 99,90,000 shares as a result of this preferential allotment on April 3, 2025.
This is a non-cash transaction where the promoter group converted existing warrants into equity shares. Their voting rights in the company have risen meaningfully (from 11.34% to 15.69%), reinforcing promoter commitment. On a fully diluted basis, their holding remains unchanged at 15.69%, meaning existing minority shareholders are not disproportionately affected. Stock price impact is likely neutral.