The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ms. Bindu Patel
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Ms. Bindu Patel, a non-promoter acquirer, has purchased 1,47,044 equity shares (1.47%) of Organic Coatings Ltd on 25 September 2025 through an off-market deal. Her holding has increased from 8,43,500 shares (8.456%) to 9,90,544 shares (9.93%) of the company. This disclosure was filed under Regulation 29(2) of SEBI Takeover Regulations, which is triggered when a non-promoter crosses the 1% acquisition threshold. The total equity share capital of Organic Coatings Ltd is 99,74,600 shares.
This is a non-promoter creeping acquisition that brings Ms. Patel's stake very close to the 10% open-offer trigger threshold under takeover norms. While not a promoter-driven move, any further purchase beyond 10% could trigger a mandatory open offer obligation, which shareholders should watch.