The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for ENAI Trading & Investment Pvt Ltd & PACs
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ENAI Trading & Investment Pvt Ltd, part of the promoter group of Relic Technologies, has acquired 39,384 equity shares (0.76%) through the conversion of warrants that were originally issued on a preferential basis. The acquisition took place on December 13, 2025. Before the conversion, the promoter group's combined holding (shares plus warrants) stood at 48.61%, and after the conversion of these warrants into shares, the total holding is reported at 44.78%. The fall in percentage is because the total share capital expanded from 51.50 lakh equity shares to 55.91 lakh shares upon warrant conversion. Separately, promoter Kunal Narendra Gandhi acquired 36,280 shares (0.70%) and Nehal Narendra Gandhi acquired 30,500 shares (0.59%) under the same preferential warrant conversion, for which individual disclosures are being filed.
This is a conversion of existing warrants rather than a fresh open-market purchase, so it is not a new capital deployment but simply a change in the form of holding. The promoter group's total stake remains below the 50% takeover threshold at 44.78%, meaning control dynamics are unchanged and no further open offer obligation is triggered.