Disclosure under Regulation 29(2) of the SEBI (SAST) Regulations, 2011 as received from Promoters
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Promoters Divya Mojjada and Cronosglobal Investments & Holdings Pvt Ltd have disclosed acquisition of 72,96,000 equity shares (14.70% of total share capital) through a Rights Issue on November 3, 2025. After this acquisition, their combined holding stands at 1,43,17,995 shares, representing 28.86% of the company's share capital. The company's total equity share capital doubled from 2,48,12,000 shares to 4,96,24,000 shares due to the Rights Issue. Promoters essentially subscribed to their proportional entitlement, maintaining their combined stake at around 28-29%.
This is a routine rights issue subscription by promoters, showing continued confidence and support for the company's capital raise. Shareholders should note that the promoter group remains below the 50% majority threshold, meaning no change in control occurs. The doubling of share capital may dilute non-participating shareholders who did not subscribe to the rights issue.