The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Raman Aggarwal & Others
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Raman Aggarwal, along with Anju Aggarwal and Shrey Aggarwal (all classified as part of the promoter group), have completed the acquisition of 12,04,300 equity shares (20.10% of the company) on August 11, 2025, through an off-market Share Purchase Agreement signed on June 23, 2025. Before the deal, the three acquirers together held 9,12,000 shares (15.22%), and after the acquisition their combined holding rises to 21,16,300 shares (35.32%). The shares were acquired at a face value of Rs. 10 per share, with the total equity share capital of the company remaining unchanged at Rs. 5,99,29,000 (59,92,900 shares). Notably, the filing notes that management control of the company is also being taken over by the acquirers under Regulation 22(2) of the SEBI Takeover Regulations. This represents a significant change of control event for a small-cap company listed only on BSE.
Shareholders should note a clear change of management and promoter consolidation, with the new promoter group's stake crossing one-third of the company. This could lead to fresh strategic direction and possible board/management restructuring; investors should also watch for any consequent mandatory open offer or further disclosures.