The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Yellowstone Investments
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Yellowstone Investments, a non-promoter entity, was allotted 30,00,000 equity shares of Starlog Enterprises on a preferential basis on April 7, 2025, at Rs. 50 per share (Rs. 10 face value plus Rs. 40 premium), implying an investment of about Rs. 15 crore. This single transaction gave Yellowstone a 20.04% stake in the company, as it held no shares prior to this allotment. The company's total equity share capital expanded from Rs. 11.97 crore (1.20 crore shares) to Rs. 14.97 crore (1.50 crore shares), a dilution of roughly 25% for existing shareholders. The filing was made under Regulation 29(1) of SEBI's Takeover Regulations, triggered by Yellowstone crossing the 5% substantial acquisition threshold in one go.
A new non-promoter entity now holds a sizeable 20% stake, which could materially affect promoter control, board composition, and future decision-making at Starlog Enterprises. Existing shareholders face significant dilution, and depending on the broader PAC (persons acting in concert) structure, an open offer to public shareholders may be triggered under SAST rules.