The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Radhika Shriram
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Radhika Shriram, a non-promoter, acquired 3,00,000 share warrants in Relic Technologies through a preferential allotment on April 5, 2025. Each warrant of Rs. 10 face value is convertible into 1 equity share within 18 months, with 25% of the issue price paid upfront and the remaining 75% due at the time of conversion. Her holding rose from nil to 5.82% of total voting capital (5.37% on a fully diluted basis), triggering this disclosure. The preferential allotment expanded the company's equity base from Rs. 3.60 crore (36 lakh shares) to Rs. 5.15 crore (51.5 lakh shares), a roughly 43% increase in share count.
Existing shareholders face dilution of about 30% on a fully diluted basis due to the expanded equity base, with potential further dilution if the warrants are exercised. The entry of a non-promoter taking a 5.82% stake signals strategic interest and may be viewed positively if the capital raised supports growth, though it increases the share count meaningfully.