The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Procheta Consultants Pvt Ltd
KLBRENG-B · price
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Procheta Consultants Private Limited (successor entity of Tusk Investments Limited) converted 15,00,000 warrants into equity shares of Kilburn Engineering Ltd on 16th May 2026 through preferential allotment. Before conversion, Procheta held 55,19,701 shares (10.42% of capital). After conversion, their holding increased to 70,19,701 shares representing 12.54% of the expanded capital. The company capital increased from Rs. 52.96 crore (52.96 million shares) to Rs. 56 crore (56 million shares) due to the warrant conversion. Procheta is explicitly NOT part of the promoter/promoter group. Additionally, 2,35,000 convertible warrants were forfeited and extinguished on the same date.
This is a passive warrant conversion by a non-promoter shareholder, increasing their stake by approximately 2 percentage points. The stock saw dilution but no change in promoter holding. Shareholders may see minor EPS dilution due to increased share count, but no immediate open offer trigger risk as the acquirer remains well below the 25% threshold.