The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Hindon Mercantile Ltd
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Hindon Mercantile Limited, along with Kapil Garg as Person Acting in Concert, has disclosed an acquisition of 44,46,227 equity shares (35.38%) of LKP Finance Limited under SEBI SAST Regulations. The shares were acquired via a Share Purchase Agreement dated August 28, 2024, with the transaction reported on March 28, 2025. Before the deal, Hindon Mercantile held 15.88% in LKP Finance; after the acquisition, its combined holding with Kapil Garg rises to 51.26% of paid-up equity capital (1,25,68,623 shares of Rs. 10 each). With this acquisition, Hindon Mercantile is set to become part of the promoter group of LKP Finance. LKP Finance is listed on BSE.
This is a change-of-control type event where a new promoter group is taking over LKP Finance with a majority 51.26% stake via a private share purchase agreement. For shareholders, this means a new controlling entity is now in place, which could bring changes in board composition, strategy, and direction. The stock may see volatility as the market digests the new promoter identity and any future plans for the company.