The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Siddhi Power Ltd
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Siddhi Power Ltd, a non-promoter entity, has filed a SEBI SAST Regulation 29(2) disclosure for Suncare Traders Ltd. Before the transaction, Siddhi Power held 58,35,713 shares (2.29% of total equity) entirely in the nature of encumbrance (pledge/lien). After the transaction dated 25-27 March 2026, the holding has been reduced to zero across all categories, meaning the encumbered shares were released and disposed of via open market/off-market route. The equity share capital of Suncare Traders stands at Rs. 51 crore divided into 25.5 crore shares of Rs. 2 each. The acquirer is not part of the promoter/promoter group.
This is a complete exit by a non-promoter shareholder (Siddhi Power) from Suncare Traders, accompanied by a full release of the pledge on the 2.29% holding. For retail investors, this means the earlier pledge risk is now removed, and the freed shares (2.29%) have moved out of Siddhi Power's books, which could affect short-term supply-demand dynamics in this low-float stock.