The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Gattu Gnana Prakash & Others
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Promoters Gattu Gnana Prakash, Arati Gattu, and Neha Gattu have disclosed an increase in their shareholding in Novelix Pharmaceuticals Ltd under Regulation 29(2) of SEBI Takeover Regulations. They were allotted a total of 1,50,000 equity shares (50,000 to Prakash and 1,00,000 to Arati) on 29th May 2026, pursuant to the conversion of warrants previously issued through a preferential allotment. The company's total equity share capital increased from Rs. 21.08 crore (2,10,85,000 shares) to Rs. 23.89 crore (2,38,95,000 shares) as a result. The promoter group's combined holding now stands at 6,00,000 shares, representing 2.51% of the diluted share capital. The company still has 33,75,000 outstanding convertible warrants pending conversion.
This is a positive signal of promoter confidence as insiders are voluntarily converting their warrants into equity, locking in their investment. However, the size of the acquisition is small (about 0.43% increase) and total promoter holding remains low at 2.51%, so this is unlikely to materially impact the stock price.