The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Asma Estates & Investments Pvt Ltd
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Asma Estates & Investments Pvt Ltd, part of the Promoter Group of K&R Rail Engineering, acquired 20,60,400 equity shares (4.93% of share capital) through conversion of 7% Optionally Convertible Redeemable Preference Shares (OCRPS). This raises the entity's stake from 14,85,931 shares (5.21%) to 35,46,331 shares (8.48%). The allotment was made on 30 October 2025; the total equity share capital of the company remains 4,18,07,812 shares as the conversion happened within existing capital. This is a Reg 29(2) disclosure, meaning the promoter entity crossed a creeping acquisition threshold (within the 5%-10% band).
No fresh capital was raised from the market — shares came from converting existing preference shares held by a promoter group entity. This is neutral to mildly positive, as it signals promoter group commitment and consolidates their ownership, though the promoter group's overall holding in the company remains modest at around 8.48% (for this entity).