The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Grid Trading Pvt Ltd
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Grid Trading Private Ltd, which is not part of the promoter or promoter group of IEL Ltd, has disclosed an aggregate acquisition of 54,33,174 equity shares, representing 4.16% of IEL's total voting share capital. The shares were acquired through a combination of a Rights Issue allotment and multiple open market purchases between March 18 and March 28, 2025. As a result of the Rights Issue, IEL's equity share capital increased nearly fourfold from about 3.34 crore shares to about 13.04 crore shares of Re. 1 each. After the acquisition, Grid Trading's total holding stands at 54,33,174 shares (4.16%), placing it just below the 5% SEBI takeover threshold that triggers mandatory disclosure.
Since Grid Trading is not a promoter and holds only 4.16%, this is unlikely to materially shift control of IEL Ltd. The disclosure signals creeping acquisition activity near the 5% threshold, meaning Grid Trading may be building a strategic non-promoter stake and could trigger further disclosures if it crosses 5%. Shareholders should watch for follow-up filings if the holding grows further.