The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ram Gopal Jindal & PAC
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Ram Gopal Jindal, along with Person Acting in Concert (PAC) Gaurav Jindal, has acquired 23,63,235 equity shares (39.73%) of NDA Securities Ltd via an off-market Share Purchase Agreement dated February 1, 2024, completed on May 19, 2025. The shares were bought from the existing promoter group members (Sanjay Agarwal, ND Agarwal, Deepti Agarwal, Saroj Agarwal, ND Agarwal HUF, and NDA Research & Technologies Pvt Ltd). Post-acquisition, the Acquirer's holding rose from a negligible 44 shares to 23,63,279 shares (39.73%), and combined with the PAC's existing 6,10,250 shares (10.26%), the total promoter group holding now stands at 29,73,529 shares (49.99%). This effectively results in a change of control, with the new promoter group settling just below the 50% mark. The filing also references completion of an open offer as part of the acquisition process.
This is a significant change-of-control event for NDA Securities. Existing promoters have largely exited, and a new promoter group led by Ram Gopal Jindal now controls nearly half the company (49.99%). Shareholders should expect potential shifts in management, strategy, and board composition. The stake landing just below 50% may limit further mandatory open offer triggers but leaves room for additional creeping acquisitions.