The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Stellant Securities (India) Ltd & Others
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Stellant Securities (India) Ltd and Subhash Phootarmal Rathod (Person Acting in Concert), who are NOT part of the promoter group, have acquired 6.4 crore fully convertible warrants in PMC Fincorp Ltd through a preferential allotment. This represents 7.98% of the fully diluted post-issue paid-up equity capital (Stellant: 2 crore warrants at 2.49%; Subhash Rathod: 4.4 crore warrants at 5.49%). The warrants are priced at INR 2.62 per share (face value INR 1, premium INR 1.62) and the allotment was completed on February 17, 2026. Prior to this acquisition, the acquirers held no shares or warrants in the company.
This is a non-promoter acquisition that brings new shareholders with a significant 7.98% stake on a fully diluted basis, which could dilute existing shareholders. The low issue price (INR 2.62) and warrant structure may also influence near-term stock sentiment and warrants could lead to further dilution upon conversion.