The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Valerian Real Estate Pvt Ltd & PACs
IBULLSLTD · price
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Valerian Real Estate Pvt Ltd along with Persons Acting in Concert (PACs), including promoter Sameer Gehlaut and several promoter-group entities, acquired 73.58 crore equity shares of Indiabulls Ltd through an allotment on November 4, 2025. The allotment was done under a court-approved Scheme of Arrangement merging Dhani Services Ltd and Indiabulls Enterprises Ltd into Indiabulls Ltd, approved by NCLT Chandigarh on August 29, 2025 and effective from October 14, 2025. As a result, the promoter group's combined stake rose from 27.46% to 32.84% of the expanded share capital. The total share capital of Indiabulls increased sharply from Rs.20.09 crore (10.04 crore shares) to Rs.464.88 crore (232.44 crore shares) due to the merger-driven share issuance.
This is a structural change rather than a market-driven stake increase — promoters did not buy shares with cash but received them as part of the merger. The float of the stock has expanded massively (over 23x), which will materially increase liquidity and may pressure the share price in the short term due to supply absorption. Promoter control has consolidated to 32.84%, keeping them well below the 50% mark and well above the 25% takeover threshold.