The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sushma Nanda & Others
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Sushma Nanda, on behalf of the promoter and promoter group, has disclosed that 14,00,000 fully convertible warrants (face value Rs. 10 each) were allotted to her on a preferential basis on May 23, 2025. These warrants represent about 9.97% of the diluted share capital. Post-allotment, Sushma Nanda holds 14,00,000 warrants (8.14% diluted), and along with PACs (Mr. Nikhil Nanda, Mr. Harish Chander Nanda, Mr. Daljit Singh Grewal, and JHS Svendgaard Laboratories Ltd), the combined promoter group holding stands at 44,52,798 shares/warrants, equivalent to 44.86% of total voting capital and 37.36% of diluted capital. Voting capital remains unchanged at Rs. 6.80 crore (68,04,600 shares), while total diluted capital post-allotment is Rs. 17.19 crore (1,71,95,957 shares on a fully diluted basis).
This is a promoter-driven capital infusion via warrants rather than a market purchase, signaling the promoter group's confidence and willingness to deepen its stake. The promoter group sits just below the 50% majority threshold at 44.86% voting capital, so if these warrants are eventually converted, the group's grip on the company will strengthen further. Shareholders should view this as a positive sign of promoter commitment, though full conversion will depend on exercise and future funding.