The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Jignesh Ramniklal Sheth
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Multiplus Holdings Ltd has disclosed that promoter Jignesh Ramniklal Sheth has acquired 4,69,000 shares (24.95% of the company) under Regulation 29(2) of the Takeover Regulations. This has pushed his total holding from 4,66,500 shares (24.81%) to 9,35,500 shares (49.76%) of the company. With this purchase, the promoter is now sitting just under the 50% ownership mark. No encumbrance (pledge) has been created against these shares.
The promoter has substantially consolidated his control by nearly doubling his stake and is now within striking distance of crossing the 50% threshold. This signals strong promoter confidence in the company but also raises the possibility of a further acquisition, which if it crosses 50% in the next financial year, could trigger takeover-regulatory implications.