The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for SMC Global Securities Ltd
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SMC Global Securities Ltd has filed a Regulation 29(1) disclosure with the exchange for Oval Projects Engineering Ltd. SMC Global holds 12,800 equity shares representing 14.51% of the total equity share capital and voting rights. According to the notes, 3,04,000 shares were allotted to SMC Global as the designated market maker under the company's prospectus dated 2 September 2025, and another 6,56,000 shares were allotted to its wholly owned subsidiary Moneywise Financial Services Private Limited. Moneywise Financial Services sold its entire 6,56,000 share (3.16%) stake on 4 September 2025. The disclosure is filed under SEBI Takeover Regulations following the recent listing of Oval Projects Engineering Ltd.
For retail shareholders, this is essentially a market maker-related disclosure and not a typical promoter or institutional investor activity. The high 14.51% holding comes from pre-listing market maker allotments rather than open market buying, so it does not signal any change in promoter control or voting power dynamics. Investors should monitor whether SMC Global later reduces its stake through market making activity.