The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for ZNL Startup Accelerator LLP & PACs
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ZNL Startup Accelerator LLP, along with PACs Amit Vijay Jain, Khushboo Jain and Mihir Deepak Vora (part of the Promoter & Promoter Group of Sancode Technologies), has disclosed acquisition of 4,44,444 convertible warrants through a preferential issue allotted on 13 December 2025. The acquirer (ZNL Startup Accelerator LLP) had no warrants before and now holds 4,44,444 warrants (0.71% on diluted basis). Combined promoter group holding stands at 33,96,965 shares and warrants, which is 65.58% of the fully diluted share capital. The company's total equity share capital post allotments (assuming full warrant conversion) stands at 51,79,978 shares of Rs. 10 face value.
This signals promoter confidence in the company, as the promoter group is putting in additional capital via warrants. The preferential route directly to promoters may raise concerns about dilution impact on non-promoter shareholders, while consolidated promoter holding remains dominant and well above the 50% threshold.