The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Aalap Natubhai Prajapati
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Mr. Aalap Natubhai Prajapati, Promoter and Managing Director of Gujarat Terce Laboratories Ltd, has converted 3,71,000 warrants (allotted on a preferential basis on 1 July 2024) into equity shares on 16 December 2025. This conversion raised his holding from 9,80,827 shares (13.22%) to 13,51,827 shares (17.35%), an increase of about 4.13 percentage points. Since the acquisition is from warrant conversion falling under Regulation 10(2B) of the SEBI Takeover Code, the promoter is exempted from making an open offer. The disclosure was filed with BSE on 17 December 2025.
Promoter confidence is reinforced — the MD has exercised his warrants, increasing his direct stake by over 4%. There is no open offer obligation, so no change in public float. Going forward, any further promoter purchase could approach the takeover-code creeping acquisition limit of 5% per year.