Piyush Kailashchandra Chandak has Submitted to the Exchange a copy of Revised Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
SOLEX · price
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Solex Energy Limited promoters are reshuffling shares among themselves. A revised disclosure has been filed for the acquisition of 45,250 equity shares (0.42% of share capital) by four existing promoters — Kailashchandra Bansilal Chandak, Piyush Kailashchandra Chandak, Kavitadevi Kailashchandra Chandak, and Arunkumar Kashiprasad Patodia — from another promoter, Shakuntala Mulchand Shah. The transaction price is around Rs 900 per share, calculated as the 60-day volume weighted average market price. The acquisition is scheduled for June 24, 2025. After the transfer, the seller's holding will drop from 3.19% to 2.77%, while the acquiring promoters' stakes will increase marginally. The revised disclosure supersedes an earlier one filed on the same day due to a change in the number of shares involved.
This is a routine internal reshuffle of shares among existing promoters, so the total promoter holding remains unchanged and no open offer obligation is triggered. It is a neutral event for shareholders and is unlikely to impact the stock price.