The Exchange has received the revised disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Nikhil D Sadarangani
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On the reaction day the stock moved 2.5 pts more than Nifty Microcap 250 and 2.7 pts more than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Nikhil D. Sadarangani, a non-promoter individual, filed a revised disclosure under SEBI's Takeover Regulations for buying 2,47,500 shares (2.48%) of Organic Coatings Ltd on 27 March 2025 through an off-market transaction. His stake has risen from 6.86% (6,84,250 shares) to 9.34% (9,31,750 shares) of the company's equity. The acquirer is explicitly not part of the promoter or promoter group. The disclosure was revised to include details that were accidentally left out in the original filing dated 28 March 2025.
The acquirer's holding is now at 9.34%, sitting just below the 10% trigger threshold under SEBI Takeover Regulations, meaning any further purchase of 2% or more would require an open offer. Shareholders should watch for additional disclosures if buying continues.