The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Nicco Engineering Services Ltd & PACs
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Nicco Engineering Services Ltd along with Persons Acting in Concert (PACs) has filed a disclosure under SEBI's Takeover Regulations for acquiring 99,99,990 equity shares of Nicco Parks & Resorts Ltd. Prior to the acquisition, the promoter group's holding was 3,57,30,929 shares representing 53.67% of the paid-up capital. Following the acquisition, the promoter's shareholding is set to rise materially, with W.B. Pvt. Ltd (a PAC) being one of the key acquirers. The acquisition moves the promoter group closer to higher ownership thresholds under the creeping acquisition route.
This is a promoter-group share purchase that strengthens the controlling shareholder's stake in Nicco Parks & Resorts. Retail investors should note this signals promoter confidence but also a creeping acquisition that could eventually trigger the 75% open offer threshold under SEBI takeover norms.