The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ruma Reddy Chenna Reddy & PACs
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Ruma Reddy Chenna Reddy, a member of the Promoter Group, acquired 22,20,000 equity shares (3.69%) through preferential allotment on 21.05.2026. This acquisition was part of a larger promoter group transaction where multiple PACs received shares via preferential issue. After the acquisition, the combined promoter holding increased from 7.88% to 24.56%, with total shares reaching 1,47,65,931. The company's equity share capital expanded from 3,43,74,260 shares to 6,01,24,260 shares of Rs.10 each due to this preferential allotment.
The significant increase in promoter holding from 7.88% to 24.56% indicates strong promoter confidence and consolidation of control. This substantial acquisition may be viewed positively by the market as it reflects insider conviction, though the large equity dilution from the preferential issue may have a neutral to slightly negative effect on the stock.