The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Harshad Bhavanbhai Patel
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Rishi Laser Limited's Promoter and Managing Director, Mr. Harshad Bhavanbhai Patel, has disclosed an acquisition of 1,25,000 equity shares (1.25%) pursuant to the exercise of option for conversion of warrants into equity. Before this transaction, the promoter held 12,96,626 shares (14.11% of voting capital); after the acquisition, his holding increased to 14,21,626 shares (14.23% of voting capital). The date of acquisition was June 4, 2026, and the equity share capital of the company remained unchanged at Rs. 9,99,26,000, confirming that this is a warrant-to-equity conversion rather than a fresh issuance. The disclosure was filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
This is a positive confidence signal — the promoter is increasing his stake by converting previously-held warrants into actual equity, showing long-term commitment to the company. However, the increase is modest (only 1.25%) and his holding remains well below the 15% creeping acquisition threshold, so the immediate share price impact is likely limited. No new shares were issued to outside investors, so there is no dilution effect for existing public shareholders.