Piyush Kailashchandra Chandak has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
SOLEX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Four existing promoters of Solex Energy Limited (Kailashchandra Bansilal Chandak, Piyush Kailashchandra Chandak, Kavitadevi Kailashchandra Chandak, and Arunkumar Kashiprasad Patodia) are acquiring 47,875 equity shares (0.44% of share capital) from promoter Shakuntala Mulchand Shah at ₹900 per share. The proposed acquisition date is 24 June 2025. This is an inter se transfer among existing promoters, exempting the acquirers from making an open offer under Regulation 10(1)(a)(ii) of SEBI Takeover Regulations, as all parties have been named as promoters for over three years. Post-transaction, the combined promoter acquirer group holding rises from 6.86% to 7.40%, while the seller's stake drops from 3.19% to 2.75%.
This is a routine reshuffling of shares among existing promoters with no change in the overall promoter group's control. Shareholders and the stock price are unlikely to be materially affected since the transfer is small (0.44%) and exempt from an open offer.