The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Nitu Choudhary
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Nitu Choudhary has been allotted 4,60,000 fully paid-up equity shares of Step Two Corporation Ltd via preferential allotment, representing 6.22% of the expanded equity and voting share capital. The allotment was approved by the Board on April 9, 2025, raising the company's equity base from Rs. 4.24 crore (42.47 lakh shares) to Rs. 7.39 crore (73.95 lakh shares). The acquirer is explicitly identified as not belonging to the promoter or promoter group of the company. Prior to this allotment, Nitu Choudhary held no shares in the company.
This is a fresh equity infusion from a non-promoter via preferential allotment, expanding the share capital by ~74%. Shareholders should note the dilution of their existing stakes by the issuance of new shares, though the capital raised could strengthen the company's balance sheet.