The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Orchard Road Properties Pvt Ltd
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Orchard Road Properties Pvt Ltd, which is not part of the promoter group, has filed a disclosure under Regulation 29(1) of SEBI's SAST Regulations for the conversion of 12,88,888 warrants into equity shares of Mega Nirman and Industries Ltd. The warrants, originally allotted on 7 July 2025 on a preferential basis at Rs. 15 per warrant, were converted on 25 July 2025, giving the acquirer 16.17% of the company's paid-up equity capital (6.93% on a fully diluted basis). The total paid-up equity capital of the company stands at Rs. 7.96 crore (79,66,667 shares of Rs. 10 each), with diluted voting capital of Rs. 18.59 crore (1,85,91,943 shares). No cash transaction with existing shareholders has occurred; this is purely a conversion of instruments the acquirer already held.
This is a technical event (warrant-to-equity conversion) rather than a fresh market purchase, so no money changes hands with existing shareholders. However, voting power in the company has now crystallised in the hands of a non-promoter entity holding over 16%, which investors should monitor as it could influence future corporate actions and control-related decisions.