The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for CAG - Tech (Mauritius) Ltd
SUNDROP · price
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CAG-Tech (Mauritius) Ltd, part of the promoter group of Sundrop Brands Ltd, acquired 18,81,073 equity shares (4.99% of paid-up capital, 4.81% of diluted capital) through an off-market deal. Promoter holding has risen from 38.91% (14,66,522 shares) to 43.90% (16,547,595 shares) of the company. The earlier 14,66,522 shares continue to be encumbered via a Non-Disposal Undertaking; the newly acquired shares are not encumbered. Mode of acquisition is off-market, so specific pricing is not disclosed here.
This is a positive signal of promoter confidence, with the promoter group consolidating its stake by nearly 5% and moving closer to the 50% threshold. Off-market acquisition (likely preferential or inter-se transfer) means existing public shareholders were not diluted, but free float may reduce slightly.