The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Karthikeyan M
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Karthikeyan M, a non-promoter, has been allotted 15,00,000 equity shares of MSL Global Limited (formerly Madhusudan Securities Ltd) at Rs. 18 per share (Rs. 10 face value + Rs. 8 premium) on 10th October 2025, pursuant to the conversion of warrants on a preferential basis. This took his holding from 0% to 7.00% of the company's total share capital, crossing the 5% disclosure threshold under SEBI takeover rules. In the same transaction, the company allotted a total of 68,57,334 equity shares to strategic non-promoter investors, increasing its equity share capital from Rs. 14.56 crore to Rs. 21.42 crore. The warrant conversion-based allotment significantly expanded the company's shareholder base while diluting existing holders.
For shareholders, this signals a sizeable capital infusion from strategic investors and a meaningful new stakeholder at 7%, but also significant dilution as the total share count jumped by roughly 47%. The stock may see increased activity given the new non-promoter holding nearing the 10% creeping acquisition threshold.