The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kaushik Hasmukhlal Gandhi & PACs
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Kaushik Hasmukhlal Gandhi along with four Persons Acting in Concert (Nimesh Sahadeo Singh, Kaushik Hasmukhlal Gandhi HUF, Priti Nimesh Singh, and Khyati Varshit Shah) acquired 35,55,000 equity shares (7.14% of total share/voting capital, 6.17% on a diluted basis) of Sanmitra Commercial Ltd through a preferential allotment approved at the board meeting on 17th October 2025. The acquisition pushed their combined holding from nil to 7.14% in the company. The acquirers do not belong to the promoter group of Sanmitra Commercial. As part of the preferential issue, Sanmitra Commercial's equity capital expanded sharply from Rs. 1.10 crore (11 lakh shares) to Rs. 49.77 crore (4.97 crore shares), indicating a major fundraising/capital expansion.
This is a non-promoter entity crossing the 5% SAST disclosure threshold in a single preferential allotment, which could indicate a strategic investor entering the company or a change in ownership pattern. Shareholders should note the significant dilution from the preferential issue and watch for further acquisitions by the same group, as a move past 10% would trigger an open-offer obligation.