The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vipul Jayantilal Modi & PACs

Creeping acquisition near the thresholdOwnership Changes View source PDF Explain this filing

RELIGARE · price

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Price reactionminutes from the announcement price · days from the prior close

+1.8%Reaction day

₹252.40

prior close

₹253.97

announcement price

After-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)+0.5%+1.3% vs market

Investment Company peers, median of 60sector+0.1%+1.8% vs sector

On the reaction day the stock moved 1.3 pts more than Nifty Microcap 250 and 1.8 pts more than its Investment Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.3

10m

+0.0

15m

+0.1

30m

+0.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+1.8+0.5+1.3+0.1+1.8

Next day

+1.0+1.2-0.2+0.5+0.5

-0.5+0.9-1.5+0.0-0.5

-0.6+1.3-1.9+0.6-1.2

-1.9+0.6-2.5+0.2-2.1

+4.8+0.3+4.5-0.2+5.0

+2.0-1.1+3.2-0.6+2.7

15d

-1.1-2.6+1.5-1.6+0.5

+1.8-1.9+3.7-2.8+4.6

+3.7-1.0+4.7-4.6+8.3

-9.8-6.7-3.1-9.1-0.7

UpDownMarket · Nifty Microcap 250Sector · Investment Company peers, median of 60Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Vipul Jayantilal Modi along with 11 persons acting in concert (PACs) disclosed an acquisition of 1,48,93,616 warrants (4.50% of share capital) in Religare Enterprises through a preferential allotment, dated 12 September 2025. These warrants are convertible into equity shares within 18 months. Combined holding (shares plus warrants) rose from 3,12,32,699 (9.44%) to 4,61,26,315 (13.95% of total capital, 11.69% on a diluted basis). The acquirers are explicitly classified as NOT belonging to the promoter or promoter group. The total diluted equity capital of the company stands at 39,45,84,445 shares post the allotment.

Likely market impact

A non-promoter group has crossed the 10% disclosure threshold in Religare via preferential warrants, signaling a significant new stakeholder. Shareholders should note potential future equity dilution once warrants convert and watch for further disclosures or an open-offer trigger if conversions push holdings higher.