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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Virupaksha Organics Ltd, part of the promoter group of Oxygenta Pharmaceutical Ltd, has acquired 77,52,600 shares (20.96%) of the company through a Regulation 29(1) disclosure filed with BSE. Before this acquisition, Virupaksha Organics held 1,07,24,858 shares (29.00%); after the acquisition, its holding stands at 1,84,77,458 shares (49.96%). No encumbrance (pledge/lien) was involved, and the shares carry full voting rights. The acquirer is explicitly identified as belonging to the promoter/promoter group of Oxygenta Pharmaceutical Ltd.
The promoter group's stake has risen sharply from 29% to just under 50%, signalling strong promoter confidence but also bringing them right up to the 50% threshold. Existing minority shareholders should note that promoter control is now near-absolute, which may reduce free float and could impact liquidity in the stock.