The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Comfort Intech Ltd
TARAPUR · price
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Comfort Intech Ltd, which is not part of the promoter group, has invoked a pledge on 11,22,460 equity shares (5.76%) of Tarapur Transformers Ltd, effectively taking ownership of these shares on April 2, 2025. Before this event, Comfort Intech held 17,00,000 shares (8.72%) of the company. After the pledge invocation, its holding has risen to 28,22,460 shares, representing 14.47% of the total share capital of 1,95,00,011 equity shares. The disclosure was made under Regulation 29(2) of SEBI's Takeover Regulations, as Comfort Intech crossed the 10% shareholding threshold. The shares were acquired through invocation of a pledge that was previously created in favor of Comfort Intech, not through open market purchases.
This is a negative signal for existing shareholders, as it suggests financial distress of the original pledgor (likely a promoter or major shareholder) who could not repay the loan to Comfort Intech. Comfort Intech, a non-promoter entity, now holds over 14% of the company, which could create uncertainty about future ownership and control of Tarapur Transformers.