The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ankan Gupta
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Ankan Gupta, part of the promoter group of Mega Nirman and Industries Ltd, has disclosed an acquisition of 8,88,888 equity shares through a preferential allotment of convertible warrants on 07/07/2025. Each warrant (priced at Rs.15) is convertible into 1 equity share (face value Rs.10). Before this acquisition, he held 14,00,000 warrants representing 5.31% of the company; after conversion of the newly allotted warrants, his total holding stands at 8.37% of the paid-up equity capital. The company's total equity capital also expanded significantly — from 33,47,500 shares to 1,06,25,276 shares — suggesting a broader preferential issue was underway. The diluted share capital post-acquisition is projected at 2,63,47,500 shares.
This is a promoter-led increase in stake via preferential warrants, which signals insider confidence but also dilutes existing shareholders. Retail investors should note the substantial expansion of share capital and potential further dilution if remaining warrants are converted.