The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Mallela Venkataramna Reddy
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Mallela Venkataramna Reddy, a non-promoter, was allotted 3,30,000 equity shares of Novelix Pharmaceuticals Ltd on 12 February 2026 through a preferential allotment, representing 1.66% of the total share capital. This takes his total holding from 15,00,000 shares (8.52%) to 18,30,000 shares (9.18%) post-acquisition. The company's equity share capital expanded from Rs. 17.61 crore to Rs. 19.94 crore as a result of this allotment. There are also 73,35,000 outstanding convertible warrants, which if fully converted would dilute his holding to 6.71% on a diluted basis.
This is a non-promoter creeping acquisition that pushes the holder's stake to 9.18%, just below the 10% SAST takeover threshold — investors should watch for further purchases. The preferential allotment also signals fresh equity infusion into the company, though it results in dilution for existing shareholders.