The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Hitesh Kawa & PACs
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Hitesh Natwarlal Kawa, along with his PACs (family members, HUF and Insightloop Services Pvt Ltd), has disclosed acquisition of shares in Prodocs Solutions Ltd under SEBI Takeover Regulations. The acquirer is explicitly NOT part of the promoter/promoter group. Between 12th December 2025 and 12th March 2026, the group bought 187,000 equity shares (2.65% of capital) via IPO and open market purchases. Of these, Hitesh Kawa personally bought 122,000 shares (1.73%) and Roopal Hitesh Kawa bought 65,000 shares (0.92%). Post-acquisition, the group's combined holding has risen from 2.50% (176,000 shares) to 5.15% (363,000 shares). The disclosure was filed because the group has crossed the 5% regulatory threshold.
This is a non-promoter creeping acquisition that has now hit the 5% creeping limit. Any further purchase beyond 5% would attract mandatory open offer obligations under SEBI Takeover Rules. For existing shareholders, this signals a non-promoter investor building a meaningful stake, which could be mildly positive for price discovery but also introduces an activist or strategic investor to watch.