The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for ICICI Prudential Life Insurance Company Ltd
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ICICI Prudential Life Insurance Company Ltd filed a Regulation 29(2) SAST disclosure for Restaurant Brands Asia Ltd. The insurer did not buy or sell any shares. Its holding dropped passively from 6.87% to 4.30% on a cumulative basis because the company allotted 12,85,71,428 equity shares to its promoters via a preferential issue. ICICI's absolute share count remained unchanged at 30,582,090 shares, but its percentage fell from 5.2468% to 4.2986% as the total equity capital expanded from 58.28 crore shares to 71.14 crore shares. The acquirer confirmed it does not belong to the promoter group.
This is a dilution event, not a sell-off. All existing non-promoter shareholders saw their proportional stake shrink automatically. For retail investors, the bigger story is the large preferential allotment to promoters, which strengthens promoter control but dilutes minority shareholders.