The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Naved Iqbal
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Naved Iqbal, along with the Promoter and Promoter Group (Javed Iqbal, Shagufta Javed, Mohammad Nadeem, Neha Nasir, Yashba Humra), has disclosed the acquisition of 40,00,000 equity shares of Greenhitech Ventures Ltd through a preferential issue, allotted on April 30, 2025. As a result, the Promoter Group's holding rose from 33,20,000 shares (70.64% of pre-issue capital) to 73,20,000 shares, now representing 56.35% of the expanded total share capital (up from 47,00,000 to 1,40,26,437 equity shares of Rs 10 face value). The filing, submitted to BSE on May 3, 2025, is a regulatory disclosure under SEBI's Takeover Regulations for acquisitions crossing the 5% threshold in a single transaction.
The preferential allotment has diluted existing non-promoter shareholders significantly, but the promoter group's stake has been reinforced and remains comfortably above the 50% control threshold. For retail investors, this signals continued promoter commitment but also means future voting power and dividend flows are increasingly concentrated with the promoter group.