The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Bhavesh Dhirajlal Tanna
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Bhavesh Dhirajlal Tanna, a non-promoter individual, received 3,75,000 equity shares of Ganga Pharmaceuticals Ltd on July 17, 2025, by converting his previously held convertible warrants into equity shares. This is a preferential-allotment/warrant-conversion transaction, not an open-market purchase. His holding in the company rose from 16,000 shares (0.33%) to 3,91,000 shares (8.08%), while the company's total equity expanded from 48,36,500 shares to 59,11,500 shares. The acquisition was disclosed to BSE under Regulation 29(2) of the Takeover Code on August 4, 2025.
A non-promoter now holds over 8% of the company, just shy of the 10% SAST takeover-trigger threshold, which means further acquisitions could attract open-offer obligations. Since this was a pre-agreed warrant conversion rather than an open-market buy, there is unlikely to be an immediate share-price reaction, but investors should watch for any further accumulation by this shareholder.