The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Plutus Capital Management LLP
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Plutus Capital Management LLP, which is not part of the promoter group, has disclosed an acquisition of 3,75,000 equity shares in Ganga Pharmaceuticals Ltd, representing 7.75% of the company's total share capital and 6.34% of the diluted share capital. Before this acquisition, Plutus Capital held zero shares in the company. The shares were acquired through the conversion of convertible warrants into equity shares via a preferential allotment on July 17, 2025. As a result of this allotment, the total equity share capital of Ganga Pharmaceuticals increased from Rs. 4.84 crore (48,36,500 shares) to Rs. 5.91 crore (59,11,500 shares). This is a Regulation 29(2) SAST disclosure triggered because the acquirer's holding crossed the 5% disclosure threshold.
A non-promoter entity has built a 7.75% stake in the company through warrant conversion, bringing it close to the 10% SAST threshold. Shareholders should monitor further disclosures, as any additional purchases by Plutus Capital could trigger the next threshold-based disclosure requirement.