Disclosure under Regulation 29(1) of SEBI (SAST) 2011
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Saurabh Jain, part of the promoter group of G.K. Consultants Limited, has acquired 10,50,000 equity shares (9.282% of the total share capital) upon conversion of convertible warrants through a preferential allotment. The acquisition took place on February 11, 2025, and the disclosure was filed on March 31, 2025 under SEBI's Takeover Regulations. Before this acquisition, the acquirer held no shares; after the acquisition, the holding stands at 9.282% of both voting and diluted share capital. The company's total share capital is INR 11.31 crore divided into 1,13,11,800 equity shares of INR 10 each.
This is a promoter increasing his stake in the company through warrant conversion, signalling confidence in the business. The post-acquisition holding of 9.28% is just below the 10% SAST trigger threshold, so any further acquisition could attract additional disclosure and open offer obligations.