The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pradip Burman & PACs
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Non-promoter acquirer Pradip Burman, along with his son Chetan Burman (Person Acting in Concert), acquired 3,15,000 equity shares of Jetking Infotrain via preferential allotment. The allocation was split as 1,90,000 shares to Chetan Burman and 1,25,000 shares to Pradip Burman. This raised their combined holding from 2,43,029 shares (4.11%) to 5,58,029 shares (8.85%) of the company's equity capital. The acquirer explicitly clarified that they do NOT belong to the promoter or promoter group of the company. The total share capital expanded from 59,07,500 to 63,03,656 equity shares as a result of this preferential allotment.
This is a non-promoter investor increasing stake close to the 10% open offer trigger threshold under SEBI Takeover Regulations. Further acquisitions beyond 10% could trigger a mandatory open offer, making this a key level for shareholders to monitor.