The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Adit Mittal & PACs
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Mr. Adit Mittal, a member of the promoter group of ITCONS E-Solutions Ltd, has acquired 93,800 equity shares through the conversion of an equivalent number of convertible warrants. The conversion took place on June 19, 2025, at an issue price of Rs. 71 per share (warrants were originally issued on July 29, 2024 at 25% upfront payment). Post-acquisition, Adit Mittal's individual holding rose from 4.75% (2,75,000 shares) to 6.26% (3,68,800 shares), an increase of about 1.59%. The combined promoter group holding (acquirer + PACs) now stands at 58.22% (34,27,397 shares) of the company's equity capital, up from 57.55% earlier. Including outstanding convertible warrants, the promoter group's total exposure is 64.14% on a fully diluted basis.
This is a pre-planned acquisition via warrant conversion rather than a fresh market purchase, so there is no immediate demand-supply impact on the stock price. It does marginally increase promoter group's equity stake, signaling continued confidence in the company's growth by the promoter family.