The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Hitesh Surendrakumar Loonia & Other
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Growington Ventures India Ltd disclosed that Hitesh Surendrakumar Loonia along with Hitesh Kumar Loonia HUF (acting in concert) acquired 6,85,00,000 equity shares (6.85 crore) of the company through a Rights Issue. This represents 10.667% of the company's paid-up equity share capital (which stands at 64,22,15,760 shares). Before this acquisition, the acquirers held nil shares, and post-acquisition their total holding stands at 6,85,00,000 shares, equal to 10.667%. The acquirers do not belong to the promoter or promoter group of the company. The date of acquisition/allotment was 27th June 2025. This is the first SAST disclosure filed by the acquirers as they have crossed the 10% substantial acquisition threshold.
A non-promoter group has taken a meaningful 10.67% stake in the company via the rights issue, signalling fresh long-term interest from an existing shareholder family. For retail investors, this means some dilution was absorbed by insiders/allottees willing to back the company, though the acquirers are not promoters, so no change in management control is implied. Watch for further disclosures if their holding creeps beyond 14% (the next SAST trigger).