The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sanjeev Goyal & PACs
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Lake Shore Realty Ltd (scrip code 519612) has filed a SAST disclosure for promoter Sanjeev Goyal and persons acting in concert (PACs) selling their entire stake in the company. Before the sale, the promoter group held 19,19,630 equity shares representing 54.84% of the total share capital of 35,00,700 shares. The sale of 19,19,630 shares (54.84%) was executed via a Share Purchase Agreement dated May 30, 2025, with the actual transaction dates being July 29 and July 30, 2025. The acquirer is AL Maha Investment Fund PC, whose shares are yet to be credited to its demat account. Post-sale, the promoter and PACs' holding reduces to nil, marking a complete exit from the company.
This is a major change-of-control event — the existing promoter is fully exiting and an investment fund (AL Maha Investment Fund PC) is taking over a majority 54.84% stake. Shareholders should expect a shift in management and business direction, and the stock may see significant volatility as the new controlling shareholder settles in. An open offer to public shareholders may also be triggered under SEBI Takeover Rules given the size of the acquisition.