The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Khilen V Shah & Others
HUBTOWN · price
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Knilen V. Shah, along with promoter group persons acting in concert, has filed a SAST disclosure under Regulation 29(2) for the conversion of warrants into equity shares of Hubtown Ltd on 13 May 2025. A total of 15,81,747 equity shares were allotted, representing about 1.19% of the company's share capital. As a result, the promoter group's combined holding (including encumbered shares) rose from 28.81% to 31.01% of total voting capital, crossing the 30% takeover threshold. The company's equity share capital increased from 12.93 crore shares to 13.35 crore shares. Of the original 1.25 crore warrants issued on a preferential basis to the promoter group, 41.18 lakh have now been converted and 83.82 lakh warrants remain pending conversion.
Crossing the 30% promoter stake threshold is a notable event for shareholders, as it can trigger open offer obligations or signal strong promoter commitment to the company. For retail investors, this reflects an increase in promoter control through preferential warrant conversion (not open market buying), keeping the equity dilution and free-float dynamics worth watching.