The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sameer Kothari & Others
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Hindustan Foods Ltd's promoter group received new share allotments under a Scheme of Arrangement involving Avalon Cosmetics Pvt Ltd and Vanity Case India Pvt Ltd. Sameer Kothari, Asha Kothari, and Aditi Kothari (all promoters) acquired additional shares totalling 2.80 crore (23.15%). As part of the restructuring, 4.65 crore shares previously held by Vanity Case India were cancelled. After the transaction, promoter group holding decreased from 59.22% to 43.20%, with Sameer Kothari holding 16.37% and Asha Kothari holding 21.33%. The share capital increased from Rs. 23.90 crore to Rs. 24.23 crore.
The promoter stake reduction from ~59% to ~43% is significant. While this is a scheme-driven restructuring rather than open market sale, the dilution reduces promoter voting control. Asha Kothari emerges as the largest individual promoter with over 21% stake. The cancellation of Vanity Case India's holding simplifies the promoter group structure.