The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pankaj Vasantbhai Shingala
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Pankaj Vasantbhai Shingala, a non-promoter acquirer, received 6,00,000 shares (6.66%) of Jigar Cables Ltd on August 29, 2025, through the conversion of warrants under a preferential issue. His holding rose from 2,60,000 shares (3.70%) to 8,60,000 shares (9.54%) of the company. The company's equity share capital increased from Rs. 7.03 crore (70.32 lakh shares) to Rs. 9.01 crore (90.12 lakh shares), reflecting the preferential allotment. Since this acquisition pushed his stake past the 5% disclosure threshold, the filing was made under SEBI's SAST Regulation 29(1).
A non-promoter now holds nearly 10% of the company, which is the regulatory threshold for creeping acquisition limits — any further purchase could trigger open offer obligations. Shareholders should watch for further stake changes by this acquirer and the use of proceeds from the preferential issue.