The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Jitendra Rasiklal Sanghavi & PACs
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Jitendra Rasiklal Sanghavi along with PACs Bhavi Jitendra Sanghavi and Brijesh Jitendra Parekh acquired 70,00,000 equity shares (6.06% of voting capital, 4.27% on a diluted basis) of Soma Papers & Industries Ltd through a preferential allotment approved by the board on 6th October 2025. Before this acquisition, the acquirer and PACs held no shares in the company. The acquirers are not part of the promoter group. Post-allotment, the company's equity share capital expanded significantly from 14,02,150 shares to 11,54,75,610 shares of Rs. 10 each.
A non-promoter entity taking a 6.06% stake via preferential allotment signals fresh capital infusion into Soma Papers & Industries but introduces a new meaningful shareholder. The massive expansion in share count will significantly dilute existing shareholders, which may weigh on the stock price in the short term.