The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Glacirer Trade Pvt Ltd & Others
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The promoter group of Phoenix Township Limited (BSE: 537839) converted their convertible warrants into 13,41,000 equity shares of Rs. 10 each on July 15, 2025. The conversion was done by four promoter-group entities — Glacier Trade Pvt Ltd (3,00,000 shares), Star Galaxy Trade Pvt Ltd (3,00,000 shares), Hede Consultancy Pvt Ltd (4,44,000 shares), and Hede Navigation Pvt Ltd (2,97,000 shares). This is the 3rd tranche of a preferential warrant conversion. As a result, the total promoter group holding increased from 1,29,80,720 shares (70.01%) to 1,43,21,720 shares (71.79%) of the company. The company's equity share capital expanded from Rs. 18.54 crore to Rs. 19.95 crore post-conversion.
Existing promoters are raising their stake in the company, signaling confidence from the promoter group. However, since this is a warrant conversion rather than a fresh market purchase, it does not bring new money into the company but does dilute non-promoter shareholders by about 6.72% on a voting basis.