The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Inuus Developers Pvt Ltd & PACs
IBULLSLTD · price
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The promoter group entity, Inuus Developers Pvt Ltd, along with Persons Acting in Concert (PACs) headed by Mr. Sameer Gehlaut, has filed a disclosure about a change in their shareholding in Indiabulls Limited following a court-approved merger. The change is on account of the Scheme of Arrangement merging Dhani Services Limited and Indiabulls Enterprises Limited into Indiabulls Limited, which was approved by the NCLT Chandigarh Bench on August 29, 2025 and became effective on October 14, 2025. Under the scheme, 73.58 crore new equity shares of Rs. 2 each were allotted to the promoter group on November 4, 2025, taking their aggregate holding from 2.75 crore shares (27.46%) to 7.63 crore shares (32.84%) on a post-merger basis. The total share capital of the company expanded sharply from about 10.04 crore shares to 232.44 crore shares as part of the merger swap. The disclosure confirms this is an allotment under the scheme and not an open-market purchase.
This is a scheme-driven, non-cash increase in promoter shareholding and does not involve any market buying or fund outflow. Promoter holding moves up to 32.84% – still comfortably below 50% but crossing the 30% mark, which may attract certain additional SEBI Takeover Regulations obligations going forward. For retail shareholders, the merger has substantially diluted their holdings given the ~23x expansion in share count, though the underlying businesses have been consolidated.