The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Spice Fuel Ventures Pvt Ltd
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Spice Fuel Ventures Pvt Ltd, which is not part of the promoter/promoter group, converted 6,48,000 warrants into equity shares of Hi-Klass Trading and Investment Ltd on February 11, 2026 through allotment. As a result, the acquirer's shareholding rose from 10,02,000 shares (4.86% of total capital / 2.99% on a diluted basis) to 16,50,000 shares (4.46% / 4.92% on a diluted basis). The conversion increased Hi-Klass's total equity share capital from about 2.06 crore to 2.70 crore shares of Re. 5 each. The disclosure was filed under SEBI's Takeover Regulations because the acquirer's diluted holding moved up by roughly 2%, triggering the Reg 29(2) reporting requirement.
A non-promoter entity has moved within striking distance of the 5% disclosure threshold on a diluted basis, which means any small additional purchase could trigger open-offer-related scrutiny. For shareholders, the equity base is expanding via warrant conversions, which may dilute existing stakes slightly, but no promoter-level action or takeover trigger is signalled here.