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 individual investor, has acquired 3,69,00,000 equity shares (5.75%) of Growington Ventures India Limited through a rights issue allotment dated 27th June 2025. Before this acquisition, Sethia held just 25 shares (negligible), so this is a fresh, sizeable entry into the company. The rights issue also expanded the company's equity capital from about 16.05 crore shares to 64.22 crore shares, indicating a significant fund-raising exercise by the company.
A non-promoter picking up 5.75% via the rights issue signals confidence from a sizeable shareholder in the company's direction, but since this came through a rights issue rather than open-market buying, it doesn't directly boost demand on exchanges. Shareholders should note the sharp expansion of share capital, which will dilute existing holdings.