The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Garima Venture Finance Ltd & PACs
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Garima Venture Finance Ltd along with PAC Mr. Dineshsingh Umashankarsingh Kshatriya disclosed an open market purchase of 21,80,000 equity shares of IEL Limited on BSE on 08th April 2025. Garima Venture Finance's stake increased from 6.73% (87,80,252 shares) to 8.41% (1,09,60,252 shares), while the PAC's holding remained unchanged at 1.95% (25,46,118 shares). The combined holding of the acquirer and PAC rose from 8.69% (1,13,26,370 shares) to 10.36% (1,35,06,370 shares), crossing the 10% substantial acquisition threshold. The acquirer has explicitly stated they do not belong to the promoter/promoter group. This disclosure is mandatory under SAST Regulations upon crossing the 10% voting rights threshold.
Crossing the 10% threshold as a non-promoter acquirer is a significant event — under SAST rules, the acquirer may now be required to make an open offer to public shareholders for at least 26% of the company's shares, which could materially impact stock price and float. Shareholders should watch for any open offer announcement from Garima Venture Finance Ltd.