The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Simple Agarwal
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Simple Agarwal, a promoter of Genus Prime Infra Ltd, filed a disclosure under Regulation 10(6) for shares allotted pursuant to a NCLT-approved Scheme of Arrangement (dated April 24, 2025). The promoter group collectively received 3,22,35,205 equity shares through the scheme. After the allotment, total promoter holding increased from 1,11,89,523 shares (74.964%) to 4,34,24,728 shares (55.689%) of the fully diluted capital of 7,79,77,210 shares. The holding crossed below the 75% threshold primarily due to the large increase in total share capital from the new share issuance, diluting the percentage despite a significant increase in absolute shares held by promoters.
Promoter holding remains firmly above 50% at ~55.7%, so control is secure. However, the sharp percentage drop (from ~75% to ~56%) signals significant dilution and may concern minority shareholders who saw their relative stake shrink.