The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kapil Garg & Saurabh Garg
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Promoters Kapil Garg and Saurabh Garg of Mufin Green Finance Ltd acquired 22,00,000 equity shares on June 20, 2025, representing 1.62% of the company's total diluted share capital. The shares were acquired through conversion of share warrants, not via open market purchase. Kapil Garg's holding rose from 5,40,000 shares (0.33%) to 16,40,000 shares (0.97%), while Saurabh Garg's holding moved from nil to 11,00,000 shares (0.65%). Their combined promoter holding now stands at 27,40,000 shares or 1.62% on a diluted basis. The company's total diluted share capital increased from 16.61 crore to 16.83 crore shares as a result of this allotment. The disclosure has been made under SEBI Takeover Regulations to the stock exchanges.
This is a promoter warrant conversion that increases their ownership stake, which is generally seen as a positive signal of insider confidence. No cash was paid to the company for these shares, and the promoters' overall holding remains small at 1.62%, so this is unlikely to have a material impact on the stock price.