The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Abhinath Shinde
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Promoter Abhinath Shinde has acquired 1,15,500 equity shares of Pet Plastics Ltd through an off-market Share Purchase Agreement dated October 3, 2024. The shares were bought in two tranches — 500 shares on June 17, 2025 and 1,15,000 shares on June 21, 2025. His stake has risen sharply from 14.08% (70,400 shares) to 37.18% (1,85,900 shares), an increase of 23.10 percentage points. The disclosure was filed under Regulation 29(2) of SEBI's Substantial Acquisition of Shares & Takeovers Regulations, 2011. Pet Plastics is a very small company with a total equity base of only 5,00,000 shares of Rs. 10 each.
This is a major promoter buying event — the promoter has more than doubled his holding, which is generally seen as a strong confidence signal in the company. However, because the acquisition is structured through a pre-existing SPA (off-market), investors should watch for any subsequent open offer obligation disclosures or further stake movements.