The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Manishkumar P Kiri & PACs
KIRIINDUS · price
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Manishkumar P Kiri along with promoter group and persons acting in concert (PACs) has disclosed the conversion of 43,93,592 warrants into equal number of equity shares on a preferential basis, as approved by the Board on August 11, 2025. Following this conversion, the promoter group's direct voting shareholding rose from 37,94,751 shares (6.82%) to 81,88,343 shares (13.64%) of the total share capital. On a fully diluted basis, the total promoter holding (shares + encumbered shares + remaining warrants) stands at 41.71%. The company's equity share capital expanded from Rs. 55.63 crore to Rs. 60.02 crore as a result of this allotment. Notably, 1,38,50,486 shares (about 23.08% of capital) remain pledged/encumbered.
Positive signal for shareholders as promoters are increasing their direct stake, showing confidence in the company. However, the continued high level of pledged shares (~23%) remains a risk factor. The stake rise strengthens promoter control but stops well short of triggering any takeover-related thresholds.