The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Eswara Rao Nandam & PACs
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Eswara Rao Nandam, along with Persons Acting in Concert (Vishaal Nandam, Uma Nandam, and Ajaraya Business Corporation), has disclosed an open market acquisition of 1,75,27,250 shares (7.99%) of Padam Cotton Yarns Ltd on 04 June 2026. The acquirer is not part of the promoter/promoter group of the company. With an additional 6,50,000 shares (0.30%) acquired by PAC Vishaal Nandam, the aggregate post-acquisition holding of the acquirer and PACs stands at 1,81,77,250 shares, representing 8.28% of the total share/voting capital. The disclosure was made to BSE under SEBI (SAST) Regulations, 2011.
The acquirer group is approaching the 10% open offer trigger threshold under SEBI takeover norms. If they cross 10%, they may be required to make an open offer for additional shares from public shareholders, which could create short-term volatility and overhang on the stock.