The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Nu Business Ventures Pvt Ltd
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Nu Business Ventures Private Limited, part of the promoter group of Galaxy Cloud Kitchens Limited, acquired 15,05,038 equity shares (2.87% of total voting capital) through off-market allotment pursuant to conversion of Compulsorily Convertible Debentures (CCDs) on 2nd May, 2025. This increased the entity's stake from 14,32,214 shares (3.03%) to 29,37,252 shares (5.90%) of the company. The target company's total voting capital expanded from 4,72,97,674 to 4,97,77,674 equity shares as a result. Persons Acting in Concert (PACs) include Central Departmental Stores, Niyman Mall Management Company, Future Enterprises, and FDRT Consultancy Services.
This is a promoter-group entity increasing its stake via CCD conversion rather than an open-market purchase, indicating internal capital restructuring. The crossing of the 5% disclosure threshold may draw regulatory attention, but since it's an off-market conversion of existing instruments, it is unlikely to significantly impact the stock price.