The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Veeram Barter Pvt Ltd & PAC
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Veeram Barter Private Limited, along with Person Acting in Concert (PAC) Veeram Vendors Private Limited, has acquired 9,00,000 equity shares (8.96%) of Palm Jewels Limited through an off-market deal on 28th May 2026. The disclosure was filed under Regulation 29(2) of SEBI's Takeover Regulations. Importantly, the acquirer has confirmed it does NOT belong to the promoter or promoter group of the company. After this acquisition, the acquirer's total holding in Palm Jewels stands at 9,00,000 shares representing 8.96% of the paid-up equity share capital of 1,00,40,960 shares.
Since the acquirer is a non-promoter entity and has crossed close to the 10% threshold (currently at 8.96%), any further purchase will likely trigger an open offer requirement under SEBI Takeover Regulations. Retail investors should monitor for further disclosures and any potential change in management control or strategic direction, as a PAC structure acquiring a significant stake may indicate a larger group interest in the company.