The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Virendra Popatlal Shah & Others
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Nine members of the promoter group of Syschem India Ltd collectively acquired 55,00,000 equity shares through a preferential issue between March 13 and March 19, 2026. The largest allotments went to Kalpana Virendra Shah (15 lakh shares, 3.06%) and Bhavesh Virendra Shah (6 lakh shares, 1.22%), with the rest receiving around 5.8 lakh shares each. As a result, the combined promoter group holding rose from 46.99% (2,04,48,610 shares) to 52.94% (2,59,48,610 shares) of the total share capital, crossing the 50% threshold. The company's total equity share capital expanded from 4,35,13,000 shares to 4,90,13,000 shares, with the fully diluted capital expected to reach 5,65,63,000 shares after the issue. The acquisition is a preferential allotment (not an open market purchase), meaning no cash changed hands in the market and existing public shareholders were not diluted through a rights issue.
Promoter group has consolidated control by crossing the 50% mark, which may reduce free float and limit takeover vulnerability but could be viewed as a sign of promoter confidence in the company's future. Shareholders should note that the preferential issue was made to existing promoter group members, so minority shareholders' proportional ownership in the company is effectively diluted.