The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kannan Sowmya Naiker & PACs
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Kannan Sowmya Naiker along with 8 persons acting in concert (all promoters/promoter group) acquired 25,00,000 equity shares of Iconik Sports and Events Ltd via preferential allotment on 30 April 2025. The promoter group's combined holding rose from 6.66% (13,08,660 shares) to 11.25% (38,08,660 shares) of the paid-up capital. Major allottees include Krishnan Kannan Naiker (5,00,000 shares) and five others receiving 4,00,000 shares each. Total equity capital post-allotment stands at Rs. 22,15,70,000 (2,21,57,000 shares of Rs. 10 each).
This is a positive signal showing promoter confidence in the company, as insiders are putting fresh capital into the business through a preferential route. The acquisition takes the promoter group past the 10% disclosure threshold, indicating stronger control and alignment with minority shareholders.