The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Srestha Finvest Ltd
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Srestha Finvest Ltd, a non-promoter entity, acquired 11,79,804 equity shares (1.97%) of SRU Steels Ltd through open market purchases on March 26, 2025. This took Srestha Finvest's total holding in SRU Steels from 75,24,476 shares (12.55%) to 87,04,280 shares (14.52%). The acquisition was disclosed under Regulation 29(2) of the SEBI Takeover Regulations, which mandates reporting of any share purchase or sale exceeding 2% of a company's share capital by non-promoter entities holding more than 5%. The shares were bought on the BSE, and the total equity share capital of SRU Steels remains unchanged at Rs. 59.93 crore divided into 5,99,39,250 equity shares of Rs. 10 each.
This is a creeping acquisition by a non-promoter buyer steadily building its stake toward the 15% disclosure threshold. Existing shareholders should note that Srestha Finvest now holds a significant 14.52% block, and further purchases could approach the 25% open offer trigger under takeover rules, which may affect stock price action.