The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Balram Garg HUF & PACs
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Balram Garg (HUF), part of the promoter group along with Balram Garg and Pooja Garg, converted 90,154,400 Fully Convertible Warrants into equity shares on 28 July 2025. This represents 1.30% of the company's pre-transaction share capital. The conversion happened under a preferential allotment upon payment of the balance 75% of the issue price, in line with SEBI (ICDR) Regulations, 2018. As a result, the company's equity share capital rose from Rs. 65.75 crore to Rs. 69.22 crore. The promoter group's absolute shareholding remained unchanged at around 27.50 crore shares, but their percentage stake dipped marginally from 31.17% to 30.91% of total share capital because of the expanded capital base.
This signals continued promoter confidence, as the promoter group has put in fresh money to complete the warrant conversion rather than letting it lapse. However, the promoter holding percentage has slightly diluted due to the increase in overall share capital, though they remain firmly in control of the company.