The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kunal Narendra Gandhi
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Promoter Kunal Narendra Gandhi disclosed acquisition of 36,280 share warrants of Relic Technologies through a preferential allotment on April 5, 2025. Before this, he held 13,88,720 shares (38.58% stake); after the allotment, his total holding (shares + warrants) stands at 14,25,000 units, equivalent to 27.67% of the expanded equity capital and 25.49% on a fully diluted basis. The company's share capital rose from Rs. 3.6 crore (36 lakh shares) to Rs. 5.15 crore (51.5 lakh shares), indicating other allottees also participated in the preferential issue. His percentage stake fell because the overall capital expanded significantly, not because he sold any shares.
The promoter is strengthening his commitment by subscribing to warrants in the preferential issue, which is generally viewed as a confidence signal. However, because the total share base grew substantially, his ownership percentage dropped from 38.58% to 27.67%, which is now well below the 50% mark and far from takeover-trigger thresholds.