The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Virupaksha Organics Ltd
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Virupaksha Organics Limited, part of the promoter/promoter group of Oxygenta Pharmaceutical Limited, has disclosed an acquisition of 27,56,500 equity shares (7.45% of the total share capital) under Regulation 29(2) of SEBI Takeover Regulations. Before this acquisition, the promoter group held 78,68,358 shares (21.27%), which has now risen to 1,06,24,858 shares (28.73%). The shares were acquired on May 14, 2025, and are listed on BSE. The acquisition pushed the promoter group's holding past the 25% mark, though promoter entities are generally exempt from the open offer trigger at this level.
This signals increased promoter confidence in the company through a sizeable stake increase of over 7%, which is usually viewed positively by retail investors as it indicates insider belief in long-term value. However, investors should watch for any further creeping acquisitions approaching higher disclosure thresholds and monitor for related-party transaction disclosures.