The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Akhil Mittal
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Akhil Mittal, a member of the promoter group of Ramchandra Leasing & Finance Limited, has acquired an additional 11,16,250 equity shares (1.37% of the total share capital) through an inter-se transfer under a Share Purchase Agreement dated November 29, 2024. The acquisition was completed in two tranches - 5,52,250 shares on January 5, 2026 and 5,64,000 shares on January 6, 2026. As a result, his stake in the company has increased from 25.13% (2,03,92,231 shares) to 26.50% (2,15,08,481 shares). The total share capital of the company remains unchanged at 8,11,62,000 equity shares. Since the acquirer already held above the 25% threshold, this transaction qualifies as a creeping acquisition within the permissible annual limit under SEBI SAST norms and does not trigger a mandatory open offer.
Promoter consolidation through inter-se transfer is typically a neutral-to-slightly-positive signal, as it shows continued promoter commitment, but since no fresh capital is being infused into the company, the impact on stock price is expected to be limited. Existing shareholders should note that promoter holding has marginally strengthened to 26.50%.