The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Niraj Rajnikant Shah & Ami Niraj Shah
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Niraj Rajnikant Shah and Ami Niraj Shah, who are NOT part of the promoter/promoter group, have filed a Regulation 29(2) SAST disclosure covering transactions from January 20, 2025 to January 22, 2026 in the open market. During this period, Niraj Shah bought 12,38,000 shares and sold 10,02,000 shares, while Ami Shah did no transactions. The PAC's combined holding has risen from 11,20,000 shares (6.25%) to 13,56,000 shares (7.58%) of the company — a net increase of about 1.33%. The equity capital remains unchanged at Rs. 17.89 crore (1,78,91,440 shares of Rs. 10 each), and no encumbrance/pledge activity is reported.
This is a non-promoter creeping acquisition that has pushed the PAC's stake past the 5% disclosure threshold and closer to the 10% mark, which could trigger additional SAST open-offer obligations if they cross 10%. For existing shareholders, it signals a non-promoter entity steadily accumulating shares in this small-cap company, which may be viewed as a mild positive indicator of confidence from a knowledgeable investor.