`The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ishrajahan Shafi Jardosh & PACs
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Ishratjahan Shafi Jardosh, along with Persons Acting in Concert (PACs), has disclosed an acquisition of 35,75,520 equity shares (14.77%) in Sofcom Systems Limited on November 22, 2024. Prior to this acquisition, the acquirer held 0% stake in the company, so this is a fresh entry via preferential allotment. The total equity share capital of Sofcom Systems expanded from 41,55,000 shares to 2,42,04,120 shares as a result of this allotment. The acquirer has confirmed they do not belong to the promoter/promoter group of the company.
This is a significant new shareholder entry at nearly 15% stake, which will dilute existing shareholders considerably (the share count grew nearly 6x). Shareholders should note that a non-promoter entity has built a sizeable position, which could influence future corporate decisions and voting outcomes at shareholder meetings.