The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shah Enterprise
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Shah Enterprise, a non-promoter entity, has disclosed under SEBI Takeover Regulations that it sold its entire holding of 3,00,00,000 equity shares (11.76% of voting capital) in Suncare Traders Ltd through an off-market transaction on 19.03.2026. Before the sale, Shah Enterprise held 3 crore shares representing 11.76% of the company; after the transaction, its holding is reduced to zero. The equity share capital of Suncare Traders Ltd remains Rs. 51 crore divided into 25.5 crore shares of Rs. 2 each. The acquirer is explicitly confirmed as not belonging to the promoter or promoter group of the target company.
This is a complete exit by a substantial non-promoter shareholder, which could indicate a change in ownership structure. Since Shah Enterprise is not a promoter, this is not a promoter-driven event and may not directly affect stock price sentiment, though investors should watch for any related party transactions or changes in the shareholding pattern that follow.