The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Saurabh Gangal
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ITCONS E-Solutions filed a disclosure under SEBI SAST Regulation 29(2) for Saurabh Gangal, a non-promoter acquirer. Importantly, no actual acquisition or sale of shares took place — his shareholding remained unchanged at 489,328 equity shares. His percentage stake in the company, however, dropped from 8.10% to 6.79% of total share capital, while the diluted voting capital percentage stayed flat at 3.25%. This dilution happened because the company's total equity share capital expanded from Rs. 6.04 crore (60.36 lakh shares) to Rs. 7.20 crore (72.03 lakh shares), likely due to warrant conversions or allotments to other shareholders. The total diluted share capital stood at Rs. 15.07 crore (1.51 crore shares) post-event.
This is a routine compliance filing with no change in the actual stake held by Saurabh Gangal. Shareholders should note that the company's share base expanded during this period, which mechanically reduced everyone's proportional holding. No fresh buying or selling signal for the stock from this disclosure.