The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Syrupy Trading Ltd
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Syrupy Trading Private Limited, a non-promoter entity, acquired 45,50,000 equity shares (3.48%) of IEL Limited through allotment under a Rights Issue. The shares were allotted in tranches between March 17 and March 26, 2025. As a result of the rights issue, IEL's total equity share capital expanded sharply from Rs.3.34 crore to Rs.13.04 crore (a roughly 4x increase). After the acquisition, Syrupy Trading holds 3.48% of IEL's voting capital. The disclosure notes that all 45.50 lakh acquired shares are encumbered (pledged) with the acquirer.
This is a non-promoter entity taking a meaningful stake via a rights issue rather than open-market buying, which suggests it participated in the company's fundraising round. Existing shareholders should note the significant dilution from the rights issue (share base nearly quadrupled), though Syrupy Trading's pledged holdings could be a future overhang if the encumbrance is invoked.