The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Janak Navinbhai Panchal
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Jet Solar Ltd informed BSE that Janak Navinbhai Panchal has acquired 6,00,000 equity shares (5.63% of total share capital) through the conversion of 6,00,000 warrants into equity shares on a preferential basis, effective April 30, 2025. Prior to this, the acquirer held Nil shares; after the acquisition, his holding stands at 6,00,000 shares (5.63%). The acquirer is not part of the promoter/promoter group. As a result, Jet Solar's total equity share capital increased from 1,00,52,000 shares to 1,06,52,000 shares of face value Rs. 10 each.
This is a non-promoter acquisition via warrant conversion, bringing in a new shareholder with a 5.63% stake. The share dilution of roughly 6% from warrant conversion slightly reduces existing shareholders' proportional ownership, though the incoming shareholder's confidence in the preferential issue may be seen as a positive signal.