The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Garima Venture Finance Ltd
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Garima Venture Finance Ltd, along with PAC Mr. Dineshsingh Umashankarsingh Kshatriya, has disclosed an open-market purchase of IEL Ltd shares on BSE, buying 21,00,000 equity shares on each of April 3, April 4, and April 7, 2025 (total 63,00,000 shares). This raised the acquirer's holding from 24,80,252 shares (1.90%) to 87,80,252 shares (6.73%), while the PAC's holding remained unchanged at 25,46,118 shares (1.95%). Combined, their stake in IEL moved up from 3.85% to 8.69%, crossing the 5% disclosure threshold. The filing explicitly clarifies that the acquirer does not belong to the promoter or promoter group. IEL's total equity share capital stands at Rs. 13.04 crore divided into 13.04 crore equity shares of Re. 1 each.
This is a non-promoter entity steadily building a sizeable stake in a small-cap company, pushing combined holding to 8.69% and closing in on the 10% trigger mark. Retail investors should watch for further disclosures if this buyer crosses 10%, as it may signal a potential creeping takeover or strategic interest in the company.