The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Amrit Chamaria & Niraj Chamaria
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Amrit Nirmal Chamaria and Niraj Nirmal Chamaria (acting as Persons Acting in Concert) acquired 1,18,475 equity shares each, totalling 2,36,950 shares (4.64% of share capital), from promoter Praveen Bhatia HUF through an off-market transaction on 29 March 2025. The disclosure explicitly states the acquirers do NOT belong to the promoter/promoter group. Post-acquisition, Amrit holds 9.80% and Niraj holds 9.71%, taking their combined holding from 14.86% to 19.51% of the company's equity. The total equity share capital remains 51,03,000 shares of face value Rs.10 each. This is a Reg 29(2) SAST filing triggered because the combined holding crossed applicable disclosure thresholds (5% incremental).
A promoter has reduced stake by 4.64% via an off-market deal to non-promoter acquirers who are now collectively holding nearly 20% — within striking distance of the 25% SAST trigger that would compel a mandatory open offer to all shareholders. Retail investors should track any further acquisitions by these acquirers, as crossing 25% could trigger an open offer obligation.