The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Karthik Iyer
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Karthik Iyer, a member of the promoter/promoter group of Relic Technologies, filed a SAST disclosure for acquiring 35,000 equity shares through conversion of warrants that were issued on a preferential basis. The conversion took effect on December 13, 2025. Although the absolute number of shares held remained 35,000, the promoter's shareholding percentage actually diluted slightly from 0.68% to 0.63% because the company's total equity capital expanded from 5,150,000 shares to 5,591,164 shares, indicating that other warrant holders also converted their warrants simultaneously. No shares were encumbered, and the acquisition was via preferential allotment conversion, not open market purchase.
This is a routine technical disclosure rather than a meaningful change in promoter shareholding — the promoter is simply converting existing warrants into shares, which signals continued alignment with the company but represents a tiny stake (under 1%). Short-term stock impact is likely neutral to mildly positive, as promoter warrant conversion generally indicates long-term confidence.