The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Aryadeep Tie Up Pvt Ltd
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Aryadeep Tie Up Private Limited, a non-promoter entity, has disclosed the acquisition of 17,00,000 warrants (convertible into equity shares) in Mega Nirman & Industries Ltd through a preferential allotment on 07/07/2025. Each warrant can be converted into 1 equity share at Rs.15 per share. Post-acquisition, Aryadeep Tie Up holds 16% voting stake and 6.45% on a fully diluted basis. As part of this preferential issue, the company's equity capital expanded significantly from Rs.3.34 crore (33.47 lakh shares) to Rs.10.62 crore (1.06 crore shares), with a fully diluted capital of Rs.26.34 crore. The acquirer has stated it does not belong to the promoter or promoter group.
This signals a significant non-promoter stake build-up via preferential warrants, which is a form of creeping acquisition approaching the 25% open-offer trigger threshold under takeover regulations. Shareholders should note the substantial dilution of equity (over 3x expansion of share capital) and watch for warrant conversion, which could further consolidate this entity's holdings.