The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vedant Tarunkumar Patel & PACs
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Vedant Tarunkumar Patel, along with several Persons Acting in Concert (PACs) including family members and group LLPs, has acquired 5,00,000 equity shares (11.40%) of Jattashankar Industries Ltd from existing promoter Mr. Jattashankar Poddar through an off-market transaction. The deal was done at Rs. 60 per share pursuant to a Share Purchase Agreement dated December 20, 2024, with shares delivered on August 11, 2025. The acquisition triggered the mandatory open offer requirement under Regulation 3(2) of the SEBI Takeover Regulations, 2011, which the acquirer has complied with. The disclosure was filed with BSE on August 13, 2025 under Regulation 29(1), which is the mechanism for reporting creeping acquisitions exceeding 5% of shareholding. The company's total equity share capital is 43,87,100 shares of Rs. 10 face value.
This represents a significant ownership change with a new non-promoter substantial shareholder entering the company, while the original promoter (Jattashankar Poddar) has exited his stake. Retail investors should watch for the mandatory open offer details, as it provides an exit opportunity at a regulated price, and assess how this change in control may affect future business direction.