The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Al Maha Investment Fund PCC - Onyx Strategy
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Al Maha Investment Fund PCC - Onyx Strategy, a Mauritius-based foreign fund (not part of the promoter group), was allotted 31,50,000 equity shares of Iconik Sports And Events Ltd on April 30, 2025 through a preferential allotment. Before this acquisition, the fund held zero shares; after the allotment, it holds 9.31% of the company's total share and voting capital. The company's equity share capital expanded from Rs. 19.66 crore (1.96 crore shares) to Rs. 33.84 crore (3.38 crore shares) as a result of this preferential issue. The disclosure was filed under SEBI's substantial acquisition regulations to report the crossing of the 5% disclosure threshold.
This is a fresh entry by a foreign institutional investor acquiring a significant ~9.3% stake via preferential issue, resulting in dilution for existing shareholders but signaling external investor interest in the company. Existing shareholders should note the expanded equity base and the presence of a sizeable new foreign institutional holder.