The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kunjal H Shah & Others
HUBTOWN · price
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Hubtown promoter Kunjal H. Shah, along with persons acting in concert, increased their stake by acquiring 954,571 equity shares (0.72% of voting capital) through the conversion of warrants on May 13, 2025. This raised the combined promoter group holding from 28.81% to 31.01% of voting capital (and 29.13% on a fully diluted basis). The warrants originated from an earlier preferential allotment of 1.25 crore warrants to the promoter group; of these, about 41.18 lakh have been converted so far, with 83.82 lakh warrants still pending conversion. No encumbrance or pledge changes were made in this transaction. The total equity share capital of Hubtown rose to 13.34 crore shares from 12.93 crore shares following the conversion.
This reflects continued promoter confidence, as the promoter group is voluntarily converting warrants into equity rather than letting them lapse. Higher promoter ownership strengthens their control over the company, but the stake remains well below the 75% takeover threshold and is not expected to trigger any open offer obligation in the near term.