The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Indo Thai Securities Ltd & PACs
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Awaiting price reaction for this filing.
Indo Thai Securities Limited together with nine Persons Acting in Concert (mostly the Doshi and Bandi families, led by director Dhanpal Doshi) has filed a SEBI Takeover Code disclosure for Arunis Abode Limited. The trigger is a rights issue, approved on 12 September 2025, that expanded Arunis's equity base from 30,00,000 shares (Rs 3 crore) to 5,10,00,000 shares (Rs 51 crore), an almost 17-fold increase. Indo Thai Securities and its PACs were allotted 30,29,588 shares through the issue, but subsequently sold roughly 23,04,380 shares in the open market between 16 and 23 October 2025. As a result, the group's combined holding has fallen from about 30,33,914 shares (5.95% of pre-rights capital) to 7,29,534 shares (1.42% of the expanded share capital, ~1.40% on a diluted basis). The acquirer has explicitly stated that it does not belong to the promoter or promoter group.
This is a non-promoter, non-strategic investor exiting a large portion of its stake just after taking rights entitlement shares in the company. For minority shareholders, the rights issue has caused massive equity dilution (share count jumped ~17x), and the immediate open-market sell-down by an existing meaningful holder can weigh on short-term price action and signals weak appetite from this holder at the post-issue valuation.