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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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Vikas Garg (along with 3 PACs – Rahul Nagar, Sandeep Jain, and Himanshu Arora) has completed a significant acquisition in Pankaj Polymers Ltd via an off-market Share Purchase Agreement under an open offer. Vikas Garg individually acquired 10,05,730 shares (18.14%), bringing his personal holding from 2.15% to 20.29%. After this transaction, the acquirer group collectively holds 27,08,686 shares, representing 48.86% of the company's total share capital. This makes them incoming promoters of the company. No shares are pledged or encumbered. The remaining 9.23% of shares (5,14,941) is expected to be acquired in due course, which would take the group past the 58% threshold.
The acquirer group has crossed the 25% threshold and now holds just under 50%, effectively taking control of Pankaj Polymers as new promoters. Shareholders should watch for further filings as the remaining 9.23% stake acquisition is completed.