The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Veluben Velji Keriya
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Non-promoter investor Veluben Velji Keriya acquired 1,98,80,000 equity shares (6.83% of total share capital) of Gemstone Investments Ltd through preferential allotment. The acquisition was completed on 08.05.2026, increasing the company's equity share capital from 22,93,50,000 to 29,12,30,000 shares. The acquirer confirmed they do not belong to the Promoter/Promoter group of the company. This appears to be part of a preferential issue that expanded the company's capital base, with the acquirer's stake representing 4.24% of the diluted share capital (46,83,50,000 shares).
At 6.83%, this acquisition does not trigger any open offer obligations under SAST regulations, as the threshold for substantial acquisition requiring an open offer is 25%. This is a significant but non-controlling stake acquired by a non-promoter investor.