The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for AI Mehta Investmnet Fund PCC
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Al Maha Investment Fund PCC – Onyx Strategy, a Mauritius-based foreign fund, has acquired 13,43,741 equity shares (38.38%) of Lake Shore Realty Ltd (formerly Mahaan Foods Limited). The acquisition was done through a Share Purchase Agreement dated May 30, 2025, and went from a Nil holding to 38.38% in one transaction. The acquirer has explicitly clarified that it does NOT belong to the promoter or promoter group of the company. The disclosure has been filed under Regulations 29(1) and 29(2) of SEBI's Substantial Acquisition of Shares & Takeovers (SAST) Regulations, 2011, meaning the acquisition has crossed the 10% and 25% reporting thresholds. The total share capital of Lake Shore Realty is 35,00,700 equity shares of Rs 10 each, and the shares are yet to be credited to the acquirer's demat account.
A single foreign investor now holds over a third of the company, marking a major change in ownership. This could increase stock volatility and may attract further regulatory scrutiny, including a potential mandatory open offer. Existing shareholders should watch for any related announcements regarding promoter changes or board reconstitution.