The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Jignesh Thobhani & PACs
KAVDEFENCE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Jignesh Amrutlal Thobhani (along with PACs Varshaben and Amrutlal G Thobhani) has acquired 40,00,000 equity shares representing 6.65% of Kavveri Defence & Wireless Technologies Ltd through a preferential allotment. Prior to this acquisition, the acquirer group held 20,00,000 shares (5.82%) which were in the nature of encumbrance (pledged shares). After the acquisition, their total holding stands at 60,00,000 shares (9.98%). The company simultaneously expanded its equity share capital from Rs.34.37 crore (3,43,74,260 shares) to Rs.60.12 crore (6,01,24,260 shares) due to the preferential issue. The acquirer has explicitly declared they do not belong to the promoter or promoter group.
A non-promoter investor building a ~10% stake via preferential allotment signals potential interest in the company, but the large capital expansion dilutes existing shareholders. No open-market takeover threat at this level, but accumulation near the 10% threshold warrants monitoring.