The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Varshaben Koradiya
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Promoters of StarlinePS Enterprises Ltd have been allotted convertible warrants through a Preferential Issue on March 27, 2026. Varshaben Koradiya received 10,00,00,000 warrants and Dhirajbhai Koradiya received 11,51,48,076 warrants, taking the total promoter group warrant holding to 21,51,48,076 instruments. As a result, the company's equity share capital rose from Rs. 36.31 crore to Rs. 43.10 crore, and on a fully diluted basis, total share capital stands at Rs. 91.10 crore. While the promoters' current voting holding diluted to 32.97% due to fresh share issuance, their fully diluted holding stands at 39.21%, keeping them just below the 40% creeping acquisition trigger threshold. No shares were directly bought or sold in the market; the change comes entirely from warrant allotment.
For shareholders, this signals promoter confidence in the company's growth story as they are putting in fresh capital via warrants. The diluted holding of 39.21% leaves promoters very close to the 40% open offer trigger limit, meaning further warrant conversion or acquisitions will require a mandatory open offer. The preferential issue also dilutes existing shareholders' stake, which is a near-term negative, though the promoter commitment is a positive long-term signal.