The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Mahabir Prasad Agarwal & Others
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Mahabir Prasad Agarwal along with 18 Persons Acting in Concert (PACs) have filed a SEBI SAST Regulation 29(2) disclosure for change in shareholding in Star Cement Limited. The acquirers are explicitly classified as NOT belonging to the Promoter/Promoter group. Their aggregate holding rose from 8,36,14,154 shares (20.687%) to 8,64,05,345 shares (21.378%), a net increase of 27,91,191 shares (0.691%). The change involved purchases of 54,37,606 shares (1.345%) and sales of 26,46,415 shares (0.655%) through open market and inter-se transfers between 01/04/2023 and 25/09/2025. Total equity share capital of the company remains 40,41,80,417 shares.
This is a creeping acquisition by a non-promoter group that has crossed the 21% mark and is moving toward higher thresholds under takeover regulations. While the incremental buying (0.691%) is modest, the acquirer is now closer to the 25% open-offer trigger limit, which could lead to a mandatory open offer if further purchases push them across that line.