The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Zara Investments Pvt Ltd
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Zara Investments Private Limited, part of the promoter group of K&R Rail Engineering Ltd, has acquired 27,47,243 equity shares through the conversion of 7% Optionally Convertible Redeemable Preference Shares (OCRPS) of Rs. 10 each. As a result, Zara Investments' holding in the company increased from 11,64,400 shares (4.08%) to 39,11,643 shares (9.36%), a rise of 6.57 percentage points. The acquisition was completed on 30 October 2025 via preferential allotment (preference share conversion), not through open market purchases. The total equity share capital of the company remains unchanged at 4,18,07,812 shares since this is a conversion of existing instruments.
This is a non-cash, non-dilutive event for existing shareholders as it involves conversion of existing preference shares held by a promoter group entity, meaning no new shares were issued to outside parties. The promoter group's consolidated voting influence via Zara Investments has now crossed the 9% mark, approaching the 10% disclosure trigger under SEBI takeover norms, which could attract further regulatory scrutiny on future acquisitions.