The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Devashish Nyati
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Devashish Nyati, a member of the promoter group of Swastika Investmart Ltd, has been allotted 15,00,000 equity shares (Rs. 2 face value) on June 6, 2025, upon conversion of 3,00,000 warrants on a preferential basis. He paid Rs. 6.99 crore as the remaining 75% consideration for the warrants. His stake in the company has risen from 8.29% (14,35,000 shares) to 14.60% (29,35,000 shares), an increase of around 6.3 percentage points. As a result, the company's total share capital increased from Rs. 3.46 crore (1.73 crore shares) to Rs. 4.02 crore (2.01 crore shares). No shares were bought or sold in the open market during the year by him — this increase is entirely through warrant conversion.
This shows the promoter group is putting more skin in the game by converting warrants into shares, which is generally seen as a positive confidence signal. However, it also dilutes existing shareholders since the share count has gone up by about 16%. Short-term share price may react mildly given the increased supply, but the promoter commitment is a positive long-term signal.