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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On the reaction day the stock moved 3.0 pts less than Nifty Microcap 250 and 4.5 pts less than its Other Food Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Grid Trading Private Limited, along with Person Acting in Concert (PAC) Shrinath Rathi, has disclosed acquisition of 71,33,174 equity shares (5.47%) of IEL Limited through open market purchases on BSE across multiple dates between March 18 and April 28, 2025. The acquirer is NOT part of the promoter/promoter group of IEL Limited. Before the acquisition, Grid Trading held zero shares in the company. Notably, IEL Limited's total equity share capital expanded nearly fourfold during this period, rising from Rs. 3.33 crore (3.33 crore shares) to Rs. 13.04 crore (13.04 crore shares), indicating a possible preferential allotment or rights issue that diluted pre-existing shareholders while the acquirer built its stake.
A non-promoter entity acquiring a 5.47% stake through creeping open-market purchases signals growing external interest in IEL Limited. Shareholders should note the substantial expansion of share capital during the acquisition window, which may have materially diluted earlier holders, and watch for further disclosures as the acquirer approaches the next SAST disclosure threshold.