The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Upnishad Holdings Pvt Ltd & PACs
GREENLAM · price
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Upnishad Holdings Private Limited, along with persons acting in concert (PACs) — Smiti Holding and Trading Company, Asiana Fund I, and Hydra Trading Private Limited — has filed a SAST disclosure for Greenlam Industries. On September 12 and 16, 2025, Upnishad Holdings acquired 1,88,72,960 equity shares (7.397% of voting capital) from Hydra Trading via a block deal. This was essentially an internal restructuring within the PAC group — Hydra Trading's 7.397% stake was transferred to Upnishad Holdings. The combined PAC holding remains unchanged at 2,55,61,960 shares (10.018% of voting capital). The acquirer and PACs explicitly clarified that they do NOT belong to the promoter or promoter group of Greenlam Industries.
No change in total ownership or control — this is purely an internal reshuffle among entities acting in concert, so existing shareholders and the stock price are unlikely to be materially affected. The combined PAC stake sits just above the 10% SAST disclosure threshold, meaning future acquisitions by this group could trigger open offer obligations.