The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Rushank V Shah & Others
HUBTOWN · price
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Rushank V. Shah, along with promoter group members (PAC), has filed a disclosure under Regulation 29(2) of SEBI Takeover Regulations for acquiring 21,31,935 equity shares (1.57% of paid-up capital) of Hubtown Limited. The acquisition happened on May 14, 2025 through conversion of warrants issued on a preferential basis to promoter group members. After this conversion, the promoter group's total holding increased to 4,35,20,414 shares, representing 32.09% of total share capital (30.63% on a diluted basis), up from 28.81% earlier. The company's total equity share capital also expanded from 12.93 crore to 13.56 crore shares as 62.50 lakh warrants were converted into equity. Another 62.50 lakh warrants remain pending for conversion, along with 2,50,000 CCDs held by the public.
This is a positive signal as the promoter group is strengthening its stake in the company through warrant conversion, showing confidence in the business. For retail shareholders, this means increased promoter alignment with the company's long-term performance, though overall promoter holding remains well below 50% so there is no change in control dynamics.