The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for BGP 11 Analytics Pvt Ltd & PACs
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BGP11 Analytics Private Limited, along with Persons Acting in Concert (PACs) — Sangeeta Pareekh and Securocrop Securities India Pvt Ltd — disclosed an acquisition of 2,14,00,000 equity shares (21.08%) in KD Green Industries Ltd (formerly Manbro Industries Ltd) on May 30, 2026, through preferential allotment on conversion of warrants. The acquirer has explicitly stated it does not belong to the promoter/promoter group, making this a non-promoter, external acquisition. Post this acquisition, the combined holding of the acquirer and PACs stands at 2,47,41,780 shares, representing 24.37% of the diluted share capital. The company's equity share capital has risen from Rs. 5.80 crore (5,80,10,500 shares) to Rs. 10.15 crore (10,15,10,500 shares) as a result of the warrant conversion.
This is a creeping acquisition by a non-promoter group whose combined holding has reached 24.37%, sitting just below the 25% open offer trigger threshold under takeover regulations. Shareholders should watch closely for a mandatory open offer announcement and any further disclosures from the acquirer or the company.