The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sachin Govindlal Modi
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Sachin Govindlal Modi has disclosed an acquisition of 1,47,50,000 equity shares in Padam Cotton Yarns Ltd, representing 5.51% of the company's total share and voting capital. Before this acquisition, he held zero shares in the company, meaning this is a fresh entry as a new substantial shareholder. The disclosure was filed under Regulation 29(1) of SEBI's Takeover Regulations, which is triggered when any person's holding crosses the 5% threshold. The acquisition is just marginally above the 5% reporting trigger.
A new shareholder entering with a 5.51% stake can influence voting decisions and may signal interest from a potential promoter, strategic investor, or large holder. Retail investors should watch for further disclosures, as any additional purchases approaching 10% or change in control thresholds would require further filings.