The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vupparapalli Reddy & Other
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Vupparapalli Chandrasekhar Reddy, part of the promoter group, disclosed acquisition of 5,60,000 equity shares (1.47% of share capital) of Novelix Pharmaceuticals on 29th May 2026. The shares were received through conversion of 5,60,000 warrants that were earlier issued on a preferential allotment basis. His direct shareholding rose from 15,70,733 shares (7.45%) to 21,30,733 shares (8.92%), while his warrant holding dropped from 13,35,000 to 7,75,000. Combined promoter group holding (Reddy + PAC Vupparapalli Pavani) moved from 10.89% to 11.95% of total share capital, and from 13.69% to a slightly higher percentage on a diluted basis. No new cash was deployed — this is a conversion event of instruments already held.
This is a technical/conversion event rather than a fresh market purchase, so it has limited direct impact on stock price. However, it does increase the promoter group's equity stake in the company, signalling continued promoter confidence. Retail investors should note the rising promoter holding and remaining 33,75,000 outstanding convertible warrants in the company, which could dilute equity further as and when they convert.