The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Salim Pyarali Govani
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Salim Pyarali Govani, belonging to the promoter group of MSL Global Limited (formerly Madhusudan Securities Ltd), has been allotted 17,00,000 equity shares of face value Rs. 10 each at a premium of Rs. 18 per share on 10 July 2025, pursuant to conversion of warrants on a preferential basis. This increases his individual holding from 5,450 shares (0.05%) to 17,05,450 shares, representing 11.71% of total share capital and 5.02% on a fully diluted basis. Combined with other promoter group members, the total promoter holding stands at 31,38,952 shares, or 21.56% of total capital. The company's total equity share capital expanded from Rs. 11.09 crore to Rs. 14.56 crore following the allotment, with 34,66,666 shares issued in aggregate to promoters and strategic investors on warrant conversion.
This is a positive signal showing promoter conviction through conversion of warrants into actual equity, strengthening their skin in the game. The post-conversion promoter holding of ~21.56% remains well below 50%, meaning the promoter group retains flexibility for future stake increases, and the warrant conversion is dilutive to non-promoters.