The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Upendrakumar Narottamdas Shah HUF & PACs
KAVDEFENCE · price
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Upendrakumar Narottamdas Shah HUF and three Persons Acting in Concert (PACs) acquired 30,00,000 equity shares (4.99%) of Kavveri Defence & Wireless Technologies Ltd through a preferential allotment. The acquirers are NOT part of the promoter group. Before this transaction, the group held 30,00,000 shares (8.73%). After the acquisition, their total holding increased to 60,00,000 shares (8.66% of expanded capital). The share capital increased from 3,43,74,260 to 6,01,24,260 equity shares post-allotment. This is a disclosure filing under SEBI's substantial acquisition regulations, triggered by crossing the 5% threshold through preferential issue.
This represents a significant stake building by non-promoter investors, bringing their collective holding to 8.66%. The transaction was via preferential allotment, meaning new shares were issued rather than purchased from the market. No immediate impact on stock price expected, but increases future takeover code threshold proximity.