The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Viral Mukundbhai Shah
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Shah Metacorp Ltd's promoter, Mr. Viral Mukundbhai Shah, disclosed an acquisition of 3,62,64,586 equity shares (3.05% of the company) under SEBI's SAST Regulations. His stake in the company rose from 4.73% (3,21,40,651 shares) to 7.78% (6,84,05,237 shares). The total share capital of the company also expanded significantly from about 67.91 crore shares to about 87.89 crore shares, indicating the shares were received via issuance or preferential allotment rather than open-market purchase. No encumbrance, pledge, or sale activity was reported in this filing.
This is a promoter stake-building move through fresh share issuance, which increases the promoter's ownership confidence but also dilutes existing shareholders by roughly 29%. Investors should note the rise in total share count and keep an eye on the company's capital-raising plans.