The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for 1729 Capital & Others
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1729 Capital (an FPI registered with SEBI), along with 1729 Advisors LLP, Pandit Pvt. Trust, and Shri Deepak Thakran and his brothers (treated as Persons Acting in Concert), have made a disclosure under SEBI SAST Regulations after crossing the 5% shareholding threshold in Suryoday Small Finance Bank. Before the acquisition, the group held 52,68,723 shares (4.96%), and on 23 August 2024 they acquired 23,23,467 shares (2.18%) via open market purchases, taking total holding to 75,92,190 shares (7.14% of equity). However, due to RBI's May 2025 clarification treating certain individuals as PACs, the bank has restricted their voting rights to 4.99%, and the acquirer is seeking post-facto RBI approval for crossing the 5% threshold.
This is a delayed, post-facto regulatory disclosure rather than a fresh large transaction. The acquirer is not a promoter. Key risk for shareholders is regulatory: if RBI does not grant post-facto approval for the 5% crossing, the entity may have to divest shares. Voting rights have already been capped below 5%, limiting influence on company decisions.