The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vikas Garg & PACs
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Vikas Garg and his PACs (Rahul Nagar, Sandeep Jain, Himanshu Arora) have disclosed acquisition of 10,45,380 shares (18.86%) in Pankaj Polymers Ltd through an off-market Share Purchase Agreement pursuant to an open offer. The acquisition was completed on May 12, 2026. After the transaction, the acquirer group now holds 17,02,956 shares representing 30.72% of the company's equity capital. The acquirers are becoming incoming promoters of the company, with a note indicating they had signed an SPA with existing promoters on January 14, 2026 to acquire 58.15% stake, and balance shares (27.43%) are to be acquired in due course.
This filing indicates a change of control at Pankaj Polymers, with Vikas Garg and his group emerging as new promoters. The acquisition of over 30% stake signals potential restructuring or new management direction, which could be positive for the company's future operations.