The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sojan Vettukallel Avirachan
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Promoter Sojan Vettukallel Avirachan has filed a SAST Regulation 29(2) disclosure reporting a fall in his equity shareholding percentage in Mangalam Industrial Finance Ltd from 26.00% to 17.54%. The decrease is not due to any sale by the promoter — his absolute share count remains unchanged at 25,00,27,310 shares. Instead, the company allotted additional fully paid-up equity shares to other promoters and public shareholders under a Rights Issue on 1 December 2025. The total share capital expanded from Rs. 96.16 crore (96,16,43,500 shares of Re. 1 each) to Rs. 142.51 crore (1,42,51,29,928 shares of Re. 1 each), which diluted the promoter's percentage stake. There are no encumbrances (pledges) on his shares.
This is a passive dilution, not an actual sale — the promoter's absolute holding is unchanged, so retail investors need not worry about promoter exit. However, the promoter did not fully subscribe to his rights entitlement, which slightly weakens his control and influence. Existing shareholders who did subscribe to the rights issue have seen their effective stake rise at the promoter's expense, which is broadly neutral to marginally positive for non-promoter shareholders.