The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Madhu Sethia
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Madhu Sethia, a non-promoter acquirer, has disclosed acquisition of 3,69,00,000 equity shares (5.75%) of Growington Ventures India Ltd through a Rights Issue. Before the acquisition, Sethia held just 25 shares (0.000015%); after the acquisition, the holding stands at 3,69,00,025 shares (5.75%). The shares were allotted on 27th June 2025, and the company's total equity share capital expanded from 16,05,53,940 to 64,22,15,760 shares following the rights issue. Since the acquisition crosses the 5% disclosure threshold, the filing has been made under Reg 29(1) of the Takeover Regulations. The acquirer has confirmed they do not belong to the promoter or promoter group of the company.
This is a routine regulatory disclosure triggered by a non-promoter crossing the 5% shareholding threshold via a rights issue entitlement. It does not indicate promoter activity or any change in control; existing shareholders should note that the total share base has expanded roughly 4x, which will dilute percentage holdings of shareholders who did not fully subscribe to the rights issue.