The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Rajan Raheja & Others
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Innovassynth Technologies (India) Ltd (ITIL) has merged into Innovassynth Investments Limited (IIL) under a court-approved scheme, with NCLT Mumbai sanctioning the merger on November 14, 2025. Pursuant to the merger, 4,68,05,250 equity shares of IIL (representing 62.04% of its diluted share capital) were issued and allotted on December 23, 2025 to the Raheja promoter group entities, including Akshay Raheja (24.86%), Viren Raheja (24.86%), Suman Raheja (4.97%), R Raheja Investments Pvt Ltd (2.65%), and Globus Stores Pvt Ltd (2.65%). The acquisition is exempt from the open offer obligation under Regulation 10(1)(d)(ii) as it arises from a court-approved scheme of merger. Post-merger, the combined promoter group holding stands at 5,56,08,988 shares, or 73.70% of IIL, up from 31.46% pre-merger.
For shareholders, this is a structural change rather than a market event — the Raheja family entities have become the controlling shareholders of the merged entity with a 73.7% stake, significantly increasing promoter concentration. Since this is a scheme-based allotment, no open offer is triggered and there is no immediate cash impact on retail shareholders, but the reduced free float may affect liquidity and trading dynamics in IIL shares going forward.