The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for BFM Industries Ltd
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Awaiting price reaction for this filing.
BFM Industries Ltd, part of the promoter group of RDB Infrastructure and Power Ltd, filed a Regulation 29(2) disclosure because its voting rights fell by more than 2% following the conversion of warrants into equity shares of RDB on 6 June 2025. BFM's share count stayed the same at 3,24,86,000 shares, but its stake in RDB dropped from 18.80% to 16.44% of the expanded equity share capital. The dilution happened because RDB's equity base grew from Rs.17.28 crore (17.28 crore shares) to Rs.19.76 crore (19.76 crore shares) after warrants were converted. No shares were actually bought or sold by BFM Industries, and the promoter group remains well below the 50% controlling threshold.
For retail shareholders, this is a technical/passive reduction in promoter group stake caused by warrant conversion, not an actual promoter sell-off, so it should not be read as a negative signal about promoter confidence.