The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Murugan Krishnan & PACs
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Murugan Krishnan along with 8 Persons Acting in Concert (all from the promoter group) acquired 25,00,000 equity shares (7.39% of the expanded capital) via a preferential allotment on 30 April 2025. This raised the total promoter group holding from 13,08,660 shares (6.66%) to 38,08,660 shares (11.25%) of the company. The total equity share capital of Iconik Sports increased from Rs. 19.66 crore to Rs. 33.84 crore as a result of this allotment. The filing was made under SEBI takeover regulations to disclose the change in promoter shareholding.
This is a promoter-friendly preferential allotment that strengthens the promoter group's control from 6.66% to 11.25%, signalling management's confidence and commitment to fund the company's growth. For retail shareholders, dilution of their stake has occurred but the promoter investment may be viewed as a positive vote of confidence in the business.