The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kay Nitroxygen Pvt Ltd & PACs
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.3 pts more than Nifty Microcap 250 and 2.1 pts more than its Paper & Paper Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Kay Nitroxygen Private Limited and 9 PACs, all part of the promoter group, have disclosed under SEBI SAST Regulation 29(1) the conversion of 46,50,000 warrants into equity shares of Kay Power and Paper Ltd on October 6, 2025. These shares were allotted to Kay Nitroxygen (the acquirer) via preferential allotment. Post-conversion, the promoter group's direct shareholding rose from 1,01,69,746 shares (27.83% of diluted capital) to 1,48,19,746 shares (40.56% of diluted capital). Including remaining convertible warrants held by Chandra Trading (43,50,000), the total promoter group economic interest stands at 52.46% of the diluted share capital. The company's total diluted equity expanded to 3,65,40,000 shares (face value Rs. 10) after this allotment.
This is a promoter group event — Kay Nitroxygen simply converted previously allotted warrants into shares rather than buying from the market, so there is no cash outflow and no supply pressure on the stock. Promoter holding strengthens, which is generally viewed positively by retail investors as a sign of insider confidence, though the dilution from the warrant conversion (roughly 12.73% of diluted capital) slightly reduces non-promoter shareholding.