The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Nikhil Nanda
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Awaiting price reaction for this filing.
Promoter Nikhil Nanda acquired 6,00,000 equity shares of JHS Svendgaard Retail Ventures through conversion of fully convertible warrants that were originally allotted on a preferential basis at Rs. 50 each per warrant. His individual holding rose from 40.22% to 45.07% of total share capital (15.92% to 19.41% on a diluted basis). The promoter group combined holding stands at 86.76% post-acquisition, down from 94.4% purely because the company's total equity share base expanded from Rs. 6.80 crore (68.04 lakh shares) to Rs. 7.40 crore (74.04 lakh shares). Total diluted voting capital now stands at around Rs. 17.20 crore comprising 1.72 crore equity shares.
Generally a positive signal — promoter increasing stake via warrant conversion shows confidence in the company. However, the preferential allotment also expanded the share base, which is mildly dilutive for non-promoter public shareholders.