Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
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Multitude Growth Funds Limited, a Mauritius-based institutional investor, received 28,35,150 equity shares of RIR Power Electronics Ltd on September 12, 2025, through conversion of 2,83,515 warrants via preferential allotment. This raised their stake from 4.14% (31,74,850 shares) to 7.55% (60,10,000 shares) of the company's total share capital. The acquirer is explicitly not part of the promoter or promoter group. The allotment increased RIR's total equity share capital from 7,67,37,250 to 7,95,72,400 shares of Rs. 2 face value each.
A foreign institutional investor now holds a meaningful 7.55% stake, moving closer to the 10% disclosure trigger threshold, which could increase volatility if they continue to accumulate. Existing shareholders face mild dilution from the preferential share issuance.