The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shailaja Agrawal & Others
MANAKCOAT · price
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The promoter group of Manaksia Coated Metals & Industries Ltd has increased its total shareholding from 51.87% to 65.05% by converting 65,99,940 warrants into equity shares on 10.04.2025. Shailaja Agrawal's stake rose from 4.59% to 5.53%, Karan Agrawal's from 4.56% to 7.30%, and Tushar Agrawal's from 4.65% to 6.61%. Other promoter group entities (PAC) collectively moved from 13.80% to 19.44%. The company's total share capital expanded from Rs. 7.94 crore (7,94,69,050 shares) to Rs. 9.03 crore (9,03,69,050 shares) as a result of the conversion. This is not an open-market purchase but an allotment arising from previously issued convertible warrants being exercised.
A significant rise in promoter holding (from ~52% to ~65%) signals strong insider confidence in the company's prospects and reduces the free float available in the market, which can be positive for share price stability. No cash was paid to the market – existing warrants were converted – so there is no fresh dilution of public shareholders beyond the pre-committed warrant terms.