The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Devarajulu Sathyamoorthi
SHANKARA · price
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Devarajulu Sathyamoorthi, a non-promoter individual acquirer, purchased 19,30,000 equity shares (7.96%) of Shankara Building Products Ltd through open market trades on October 9 and 10, 2025. The disclosure was filed under Regulation 29(1) of SEBI's Takeover Regulations because the acquirer crossed the 5% reporting threshold. The acquirer explicitly confirmed that he does NOT belong to the promoter or promoter group of the company. Post-acquisition, his total holding stands at 19,30,000 shares, representing 7.96% of the company's equity share capital (2,42,49,326 shares of ₹10 each). The total share capital remained unchanged at ₹24,24,93,260 before and after the acquisition.
A non-promoter has accumulated a meaningful 7.96% stake in a single transaction, bringing him close to the 10% open offer trigger under SAST rules. Retail investors should watch for further disclosures — if the holding crosses 10%, a mandatory open offer for additional shares from public shareholders could be triggered, which would impact stock price and liquidity.