The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shubhalakshmi Polyesters Ltd & Others
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Shree Hari Chemicals Export Ltd has informed the exchange about a promoter-group acquisition under SEBI Takeover Regulations. The promoter group — Shubhalakshmi Polyesters Ltd (PAC), Gayatri devi Agarwal, Kanta Agarwal and Suman Agarwal — collectively acquired 6,05,494 equity shares (10.93%) through conversion of CCDs that were originally allotted on 15 November 2024. As a result, total promoter-group holding rose from 54.25% to 59.24% of the company's share capital. Post-conversion, the total equity share capital increased from Rs. 4.93 crore (49.32 lakh shares) to Rs. 5.54 crore (55.38 lakh shares). This is a preferential-style allotment to existing promoters, not a market purchase.
This is a non-cash, dilutive event for non-promoter shareholders because the company's share count expanded by about 12.3%. However, since the allotment was only to promoters (whose stake actually rose), existing minority investors saw their proportional holding get reduced without any fresh capital coming from them. The signal is broadly neutral to mildly negative for minorities, but reflects promoter confidence and long-term commitment to the company.