The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Flash Merchandise Pvt Ltd
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On the reaction day the stock moved 0.1 pts more than Nifty Microcap 250 and 0.2 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Flash Merchandise Private Limited has acquired 38,46,15,384 equity shares (approximately 38.46 crore shares) of Standard Capital Markets Ltd, representing 15.67% of the total voting share capital. The shares were allotted on a preferential basis on May 19, 2025, and the acquirer's holding jumped from NIL to 15.67%. Flash Merchandise is explicitly stated as NOT being part of the promoter or promoter group. The total preferential issue was much larger at 72,45,74,640 shares, which expanded the company's share capital from Rs. 173 crore to Rs. 245.46 crore. The disclosure is filed under Regulation 29(1), which deals with acquisitions crossing certain thresholds under the Takeover Code.
A non-promoter entity taking a 15.67% stake via preferential allotment is a significant event. Retail investors should note the substantial dilution of existing equity (company's share base grew by ~42%) and the entry of a new major shareholder. The acquirer is just past the 15% open-offer trigger threshold, so any further acquisition could attract open-offer obligations.