The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sivani Kannan Naiker & PACs
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Awaiting price reaction for this filing.
Sivani Kannan Naiker and eight Persons Acting in Concert (all promoters) have disclosed an acquisition of 25,00,000 equity shares (7.39% of the expanded capital) through a preferential allotment on 30 April 2025. The allotment nearly doubled the company's share base — equity capital rose from Rs 19.66 crore (1.96 crore shares) to Rs 33.84 crore (3.38 crore shares). The promoter group's combined holding increased from 13,08,660 shares (6.66%) to 38,08,660 shares (11.25%) post-allotment. Krishnan Kannan Naiker acquired the largest chunk at 5 lakh shares; the remaining six named promoter/PAC members each received 4 lakh shares. Three other PACs (Vandana Morarka, Sushil R Morarka, Abhishek S Morarka) did not participate and their holdings were diluted.
This is a positive signal for shareholders — promoters are putting more of their own money into the company via preferential allotment, increasing their stake from 6.66% to 11.25%, which signals confidence. However, existing shareholders are being diluted as share count grew by ~72%. The stock may see short-term volatility depending on the issue price relative to market price.