The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Rajiv Mundhra
SIMPLEXINF · price
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The promoter group of Simplex Infrastructures Ltd, led by Rajiv Mundhra, has seen its shareholding decline from 49.82% to 42.35%, a drop of about 7.47 percentage points. This reduction is not due to a sale by the promoter but is a result of the company allotting 10,084,027 fresh equity shares to National Asset Reconstruction Company Limited (NARCL), a government-backed bad bank. Based on the disclosed figures, NARCL now holds roughly 15% of the expanded share capital, making it the single largest shareholder. This type of allotment is typically part of a debt-resolution transaction where NARCL converts a company's stressed debt into equity. After this change, the promoter group no longer holds a majority stake in the company.
Promoter control is significantly diluted and the promoter group has lost majority ownership. NARCL's emergence as a major shareholder signals ongoing debt restructuring, which may influence future strategic decisions and could affect short-term stock sentiment.