The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Virupaksha Organics Ltd
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.6 pts more than Nifty Microcap 250 and 3.9 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Virupaksha Organics Limited, part of the promoter/promoter group of Oxygenta Pharmaceutical, acquired 20,00,000 shares (5.41%) of the company. The disclosure filed under Regulation 29(1) of SEBI's SAST Regulations, 2011 shows the acquirer's holding went from 18,477,458 shares (49.96%) to roughly 20,477,458 shares (about 55.37%) of the target company listed on BSE. No encumbrance or pledge details were involved — this is a straightforward equity acquisition. The promoter group has now firmly crossed the 50% majority holding threshold.
Promoter control in Oxygenta Pharmaceutical has strengthened from just-below majority to a comfortable majority stake of ~55%, reducing the risk of hostile action and signalling promoter confidence in the company. Retail shareholders should note tighter promoter control going forward.