The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Parag Shah
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Jet Solar Ltd has filed a disclosure under SEBI SAST Regulation 29(1) on behalf of Parag Shah, who along with Person Acting in Concert (PAC) Dipika Parag Shah, has acquired 6,68,000 equity shares representing 5.90% of the company's share capital. Parag Shah individually received 4,28,000 shares (3.78%) while Dipika Shah received 2,40,000 shares (2.12%). The shares were allotted on May 5, 2025 via preferential allotment on conversion of warrants into equity shares. Prior to this acquisition, both acquirers held Nil shares in the company. The company's equity capital expanded from 1,06,52,000 shares (Rs. 10.65 crore) to 1,13,20,000 shares (Rs. 11.32 crore) post-allotment. Notably, the acquirers have stated they do not belong to the promoter or promoter group of Jet Solar.
A new non-promoter shareholder group has built a meaningful 5.90% stake in the small-cap Jet Solar through preferential warrant conversion. This is a fresh entry crossing the 5% disclosure threshold and is approaching the 10% trigger level, which could attract further regulatory scrutiny and may signal strategic interest in the company.