The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shoeb Estates Pvt Ltd
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Shoeb Estates Private Limited, part of the promoter group of K&R Rail Engineering Limited, has acquired 15,18,750 equity shares through the conversion of 7% Optionally Convertible Redeemable Preference Shares (OCRPS) of Rs. 10 each. Post-conversion, the promoter group's stake rose from 5,80,005 shares (2.03%) to 20,98,755 shares (5.02%), crossing the 5% substantial shareholder threshold. The conversion happened on 30 October 2025, and the total equity share capital of the company remains unchanged at 4,18,07,812 shares since this was a conversion rather than a fresh issuance.
This is a passive increase in promoter holding via conversion of pre-existing preference shares, not a fresh market purchase, so there is no immediate cash impact or shareholder dilution. However, the stake has just crossed the 5% regulatory threshold, which signals growing promoter commitment and may improve market confidence in the company.