The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Meru Minerals Pvt Ltd & PACs
IBULLSLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Meru Minerals Private Limited and Persons Acting in Concert (PACs, including Sameer Gehlaut and group entities) have filed an SAST disclosure with BSE/NSE reporting an increase in their combined shareholding in Indiabulls Limited from 27.46% to 32.84%. The change happened on November 4, 2025, when Indiabulls allotted around 2,223 crore new equity shares (face value Rs 2) to shareholders of merged entities Dhani Services Limited and Indiabulls Enterprises Limited under a Scheme of Arrangement approved by the NCLT Chandigarh Bench. The paid-up share capital jumped from about Rs 20 crore (10.04 crore shares) to about Rs 465 crore (232.44 crore shares). Meru Minerals itself holds NIL shares directly; the entire holding is through PACs.
This is a passive increase in promoter stake due to a court-approved merger and not a market purchase, so it represents no fresh cash outflow by the promoter group. Shareholders are diluted by around 22 times but the promoter group's proportional holding rises, signalling their continued control of the merged entity.