The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Calleis Real Estate Pvt Ltd & PACs
IBULLSLTD · price
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Calleis Real Estate Private Limited, along with its Persons Acting in Concert (PACs) including Sameer Gehlaut and several group entities, has filed a disclosure regarding a change in their aggregate shareholding in Indiabulls Limited. The PACs' stake rose from 27.46% (2.75 crore shares) to 32.84% (76.34 crore shares), an increase of 5.38 percentage points, through the allotment of 73.58 crore new equity shares. This was not a market purchase but an automatic allotment under a court-approved Scheme of Arrangement that merged Dhani Services Limited and Indiabulls Enterprises Limited into Indiabulls Limited, effective from October 14, 2025, with shares issued on November 4, 2025. The company's total share capital expanded sharply from 10.04 crore shares to 232.44 crore shares, meaning existing non-PAC shareholders have been substantially diluted.
The promoter/PAC group's effective economic stake in Indiabulls has risen modestly post-merger scheme, but all non-PAC shareholders face significant dilution as share count grew over 23x. No open offer obligation is triggered since scheme-based allotments are exempt under SEBI Takeover Regulations.