The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Tarunkumar Gunvantlal Patel & PACs
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Mr. Tarunkumar Gunvantlal Patel, along with 16 Persons Acting in Concert (PACs), has acquired 4,04,567 equity shares (9.22%) of Jattashankar Industries Ltd from Mr. Jattashankar Poddar through an off-market Share Purchase Agreement dated December 20, 2024, at Rs. 60 per share. With this acquisition, the combined holding of the acquirer and PACs has risen from 1,56,400 shares (3.56%) to 5,60,967 shares (12.79%) of the company. The acquirer is not part of the promoter/promoter group, and the transaction was completed after complying with the mandatory open offer requirements under SEBI SAST Regulation 3(2). The date of acquisition is recorded as August 04, 2025, and the company's total equity share capital remains at 43,87,100 shares of Rs. 10 face value.
A non-promoter entity and his concert group have crossed the 10% substantial shareholder threshold, which may lead to changes in the company's control dynamics and shareholder composition. Investors should monitor for any further disclosures related to the mandatory open offer and potential changes in board influence.