We are enclosing herewith the Disclosure in terms of Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 as received from Mr. Krishan Kumar Goyal, ....
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Modern Dairies Ltd has filed a disclosure under SEBI Takeover Regulations regarding an increase in shareholding by its promoter group. Mr. Krishan Kumar Goyal along with Persons Acting in Concert (Mrs. Alka Goyal, Krishan Goyal HUF, Chandigarh Finance Pvt Ltd, and Mala Builders Pvt Ltd) acquired 28,00,000 equity shares on February 27, 2026. The acquisition happened through the conversion of warrants that were originally allotted on a preferential basis. Post-acquisition, the total promoter group holding rose from 38.94% to 44.97% of the total share capital (and from 31.26% to 40.03% on a diluted basis). The equity share capital of the company increased from Rs. 25.91 crore to Rs. 31.91 crore due to this conversion.
This is a positive signal for shareholders as it shows promoter confidence and commitment to the company by increasing their stake through warrant conversion. With the promoter group now holding nearly 45%, retail investors may view this as a sign of insider belief in the company's future, though the dilution also slightly reduces proportional holdings of existing non-promoter shareholders.