The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Rahul Nagar & PACs
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Rahul Nagar (classified as incoming promoter) along with 3 PACs (Vikas Garg, Sandeep Jain, Himanshu Arora) disclosed acquisition of 10,45,380 shares (18.86%) via Share Purchase Agreement on May 12, 2026. Before this transaction, the group held 6,57,648 shares (11.86%) with Sandeep Jain being the sole existing holder. After the acquisition, their combined holding increased to 17,02,956 shares (30.72%). The note clarifies that a SPA was signed on January 14, 2026 with existing promoters to acquire 32,23,627 shares (58.15%), making them the new promoters. The remaining 15,20,671 shares (27.43%) are to be acquired in due course.
This marks a change of control at Pankaj Polymers as an incoming promoter group acquires majority stake. The combined holding of 30.72% is below the 50% threshold, but the disclosed intent is to acquire 58.15% equity share capital. Shareholders should monitor for the open offer completion and any further filings as remaining shares are acquired.