The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Santosh Kumar Choudhary HUF & Others
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Step Two Corporation Ltd has allotted 13,87,500 fully paid-up equity shares, representing 18.75% of the expanded equity capital, on a preferential basis. The allottees are Santosh Kumar Choudhary HUF, Santosh Kumar Choudhary, and Basant Lal Choudhary HUF — each receiving 4,62,500 shares (6.25% each). The allottees have stated they do NOT belong to the promoter/promoter group. Before the allotment, these allottees held zero shares; post-allotment they collectively hold 18.75% of the expanded capital. The allotment was approved at a Board Meeting held on April 9, 2025, raising the company's equity capital from Rs. 4.24 crore to Rs. 7.39 crore (42.47 lakh shares to 73.95 lakh shares).
This is a significant 18.75% dilution for existing shareholders due to the preferential issue, with the stake going to non-promoter entities. Existing shareholders may see their holding percentage reduced, and the stock could react to the new ownership structure and capital infusion.