The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Uttam Ishwarlal Dave
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Uttam Ishwarlal Dave, a member of the promoter group of iStreet Network Limited, acquired 42,50,000 equity shares (19.95% of the equity capital) through an off-market transaction pursuant to a Share Purchase Agreement (SPA) dated January 13, 2025. The acquisition was completed on September 16, 2025. Prior to this, the acquirer held just 4,105 shares (0.2%), and post-acquisition, his total holding stands at 42,54,105 shares (19.97%). The equity share capital of the company remains 2,13,00,000 shares of Rs. 4 each, and the transaction was disclosed under SEBI SAST Regulation 29(1) and Insider Trading Regulations 7(2)(a) and 7(3).
This is a major promoter stake acquisition that significantly strengthens the promoter's ownership in the company from a negligible 0.2% to nearly 20%. The change signals a strong promoter commitment and consolidation of control, but also brings the promoter holding close to the 20% threshold, which could attract further regulatory disclosures under SAST going forward.