The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sesha Sai Nikhil Chintalapati & Others
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Sesha Sai Nikhil Chintalapati, along with PAC DM Fincon Services LLP (neither belonging to the promoter group), has disclosed acquisition of 4,92,000 equity shares in Novelix Pharmaceuticals through preferential allotment on 24 December 2025. This appears to be conversion of previously held 4,92,000 warrants into equity shares. Post-acquisition, Chintalapati holds 9,92,000 shares (5.78%) and combined with PAC, total holding stands at 12,42,000 shares or 7.23% of the expanded share capital. The company's equity share capital expanded from Rs.14.14 crore (1,61,41,000 shares) to Rs.17.21 crore (1,72,15,000 shares) following this allotment. Total diluted capital is Rs.24.49 crore including 77,35,000 outstanding convertible warrants.
This is a non-promoter acquirer's warrant-to-equity conversion disclosed under SAST norms, signalling dilution for existing shareholders. With combined holding at 7.23%, the acquirer remains below the 10% open-offer trigger threshold, so no mandatory tender offer is required at this stage.