The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sangeeta Pareekh & PACs
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On the reaction day the stock moved 3.2 pts less than Nifty Microcap 250 and 2.3 pts less than its Gems, Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Sangeeta Pareekh, along with PACs BGP11 Analytics Pvt Ltd and Securocrop Securities India Pvt Ltd, acquired 2,14,00,000 equity shares (21.08% stake) of KD Green Industries Ltd (formerly Manbro Industries Ltd) through preferential allotment on conversion of warrants. The acquirers are explicitly not part of the promoter/promoter group. After the acquisition, the combined holding of the acquirer and PACs stands at 2,47,41,780 shares, representing 24.37% of the company's total share capital. The share capital of the company increased from Rs. 5.80 crore to Rs. 10.15 crore due to the allotment. The shares acquired will rank pari-passu with existing equity shares and are subject to SEBI ICDR lock-in provisions.
This is a non-promoter entity crossing into a significant 24.37% stake, sitting just below the 25% open-offer trigger threshold under SEBI takeover rules. Shareholders should note the substantial dilution of their holdings (share capital nearly doubled) and watch for any further acquisitions that could push the holding past the regulatory threshold, potentially triggering an open offer obligation.