The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sudhir Reddy Posireddy & Others
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Promoters of Source Industries (India) Limited have acquired an additional 14,86,210 equity shares (13.03% of total share capital) through an off-market transaction pursuant to a Share Purchase Agreement and Open Offer on 25th July 2025. The acquirers — Sudhir Reddy Posireddy, N Mohan Krishna, Ram Reddy Swathi, and Arka Defence Private Limited — together held 50.18% before the acquisition and now hold 63.21% of the company. Sudhir Reddy Posireddy's individual stake rose from 20.59% to 26.15%, and Ram Reddy Swathi's stake increased from 20.26% to 23.59%. The company confirms this is the completion of the open offer process, making them the new promoters of the company.
This is a positive signal of promoter commitment and a change-of-control event, with the new promoter group consolidating majority ownership above 60%. Shareholders should note the increased promoter control reduces float, while the open offer completion provides a formal takeover conclusion.