The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Subhash Phootarmal Rathod & Mangala Rathod

Promoter Stake BuyCreeping Acquisition Near ThresholdPromoter Below 50pctOwnership Changes View source PDF

Price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+0.6%1-day move

₹528.00

prior close

₹499.10

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

+6.2+6.2+5.7+5.7+0.6+2.3+3.2+4.4+6.6+6.6+3.8+5.1——

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AI summary

Promoters Subhash Phootarmal Rathod and Mangala Subhash Rathod have disclosed acquisition of 1,50,000 fully convertible warrants each (3,00,000 total) through a preferential allotment dated 02.02.2026 at INR 340 per warrant (including a premium of INR 330 over the face value of INR 10). This acquisition represents 5.42% of the company's share/voting capital. Post-acquisition, the combined promoter holding (shares + warrants) rises to 49.18% of total share/voting capital and 46.65% of diluted capital. The filing was made on 01st June 2026, with the promoters acknowledging a delay due to inadvertent oversight and pledging stricter compliance going forward.

Likely market impact

Promoter stake has crept up to just below the 50% control threshold, meaning any further acquisition could trigger open offer obligations under SAST rules. For shareholders, this signals increased promoter confidence (capital infusion at a significant premium) but also warrants potential dilution when these convert into equity shares.