The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Multitude Grwoth Funds Ltd
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Multitude Growth Funds Limited, a Mauritius-based foreign fund, has acquired 28,35,150 equity shares of RIR Power Electronics Ltd through conversion of warrants under a preferential allotment. This increased its holding from 4.14% (31,74,850 shares) to 7.55% (60,10,000 shares) of the company's voting capital. The transaction, dated September 12, 2025, reflects the conversion of 2,83,515 warrants into equity shares (after accounting for bonus and stock split adjustments). The acquirer is not part of the promoter/promoter group. RIR Power Electronics' total equity capital expanded from 7.67 crore to 7.96 crore shares following this allotment.
This is a creeping acquisition by a foreign institutional investor who is not a promoter, signaling continued institutional confidence in the company. At 7.55%, Multitude Growth Funds is now approaching the 10% disclosure threshold under SAST regulations, meaning further purchases would trigger additional reporting requirements and could influence stock sentiment.