The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sunil Khaitan & Others
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On the reaction day the stock moved 1.9 pts more than Nifty Microcap 250 and 1.7 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shalimar Wires Industries Ltd has filed a disclosure under SEBI Takeover Regulations regarding a small open market purchase by promoter Sunil Khaitan. He acquired 28,981 equity shares (0.06% of the company's capital), increasing his individual stake from 0.85% to 0.92%. No other promoter or promoter group entity acquired or sold any shares in this transaction. The total promoter and promoter group holding stands at 28,093,308 shares, or 65.71% of the company, up marginally from 65.64% before the acquisition. The filing also notes that 1,23,99,000 promoter group shares are currently pledged with Kotak Mahindra Bank Ltd.
This is a minor, confidence-signalling purchase by an individual promoter and is too small to materially affect the stock price or change the controlling stake dynamics, which remain firmly with the promoter group at over 65%.