The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Paramjeet Chhabra & Others
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The promoter and promoter group of Springform Technology Ltd have disclosed the receipt of convertible warrants allotted to them on a preferential basis on December 27, 2025. Three promoters (Paramjeet Singh Chhabra, Amarjeet Kaur, and Amandeep Singh) together received 75.11 lakh warrants, which upon full conversion will give them a combined stake of about 74.35% of the expanded share capital. Before this allotment, the promoter group held only 35,050 shares (0.35%) of the company. The preferential issue was priced at Rs. 10 per equity share (face value Rs. 10) and totaled Rs. 10.05 crore across promoter and non-promoter categories. Consequently, the company's equity share capital jumped massively from 50,000 shares (Rs. 5 lakh) to 1.01 crore shares (Rs. 10.10 crore).
This is a major change of control event — the promoter group's stake will surge from a negligible 0.35% to roughly 74.71% post-conversion, effectively making this a promoter-led company. For existing retail shareholders, this means significant dilution (their stake drops to about 25%) and a fundamental shift in company ownership, though the promoter commitment of Rs. 10+ crore signals confidence in the business.