The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shankarappa Nagaraja Vinaya Babu
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On the reaction day the stock moved 2.5 pts more than Nifty Microcap 250 and 3.0 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shankarappa Nagaraja Vinaya Babu acquired 27,10,210 equity shares (7.68%) of Pharmaids Pharmaceuticals Ltd through an open offer on August 25, 2025. Along with Persons Acting in Concert (Tumkur Trade Center Private Limited), his combined holding increased from 85,88,854 shares (24.35%) to 1,12,99,064 shares (32.04%) of the company's paid-up equity capital. The acquirer is not currently classified as a promoter but will be reclassified as one once the open offer process is completed. The company has a total equity share capital of 3,52,67,812 shares of INR 10 each (INR 35.27 crore).
This represents a significant change in ownership with a new promoter group emerging at over 32% stake, which may lead to shifts in board composition, strategy, and management direction. Shareholders should expect potential open offer-related actions and promoter reclassification announcements in the coming weeks.