The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Madhav Dhir & PACs
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Madhav Dhir along with PACs (Maneesha Dhir, Srishti Dhir, Snigdha Dhir) has converted warrants into 27,00,000 equity shares of Lords Chloro Alkali Ltd, amounting to 9.42% of the company's share capital on a post-conversion basis. The mode of acquisition was conversion of warrants into equity, not an open market purchase. As a result, the promoter group's total holding rose marginally from 74.66% to 74.97%. The total equity share capital of the company increased from 2,51,53,861 to 2,86,53,861 shares, indicating additional warrant conversions by non-promoter holders as well. The transaction was carried out on 23 February 2026.
This is a confidence signal from promoters who chose to convert warrants into equity rather than letting them lapse. However, it slightly dilutes non-promoter shareholders' stake as the promoter holding rose only marginally (0.31 percentage points) while the total share base expanded by about 14%. No fresh cash flows into the company from this particular promoter conversion.