Disclosure under Regulation 7(2) of SEBI PIT Regulations, 2015 for acquisition of shares.
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Team24 Foods and Beverages Private Limited, the acquirer/promoter group entity of Kore Foods Limited, purchased 48,34,253 additional equity shares via an off-market transaction under a Share Purchase Agreement (SPA). This increased their stake from 56.65% to 66.52%, a jump of roughly 9.87 percentage points. The transaction was executed on 25 April 2025 and the company was intimated on 28 April 2025. The deal value, as per the SPA, was Rs. 253.9 (likely crores), excluding taxes and charges. The disclosure was filed in Form C under Regulation 7(2) of SEBI PIT Regulations, 2015.
Promoter/promoter-group holding has risen well past the 50% mark, consolidating control and reducing the public free float in the stock. Large off-market block purchases of this size often indicate a strategic consolidation or possible shift in control dynamics worth tracking for minority shareholders.