The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kabir Zubair Botawala
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Kabir Zubair Botawala, along with his Persons Acting in Concert (father Zubair Suleman Botawala and mother Aaliya Zubair Botawala), acquired 16,86,880 equity shares (6.20%) of Sofcom Systems Ltd on November 22, 2024. His holding increased from 46,456 shares (0.19%) to 17,33,336 shares (7.16%) of the company. The acquirer does not belong to the promoter or promoter group. The company's total equity capital expanded from about 41.55 lakh shares (INR 4.16 crore) to about 2.42 crore shares (INR 24.20 crore) around the same period, indicating a major corporate action such as a stock split or bonus/preferential issue. The disclosure was filed under Regulation 29(1) of SEBI Takeover Regulations because the acquirer's holding crossed the 5% disclosure threshold.
This is a non-promoter acquisition that crosses the 5% SAST disclosure trigger and takes the acquirer to 7.16%, approaching the 10% open offer threshold. Retail investors should watch for any further purchases by this acquirer group, as crossing 10% would trigger a mandatory open offer under takeover rules.