The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Team 24 Foods & Beverages Pvt Ltd
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Team 24 Foods & Beverages Private Limited, which is not part of the promoter group, has acquired 15,37,860 equity shares (5.99%) of Kore Foods Limited through an off-market deal on May 5, 2025. This takes the acquirer's total holding in Kore Foods from 66.52% (1,70,61,461 shares) to 72.51% (1,85,99,321 shares). The acquisition crossed the 5% creeping acquisition disclosure threshold and pushed the acquirer's stake close to the 75% level, which is significant under SEBI takeover rules. Kore Foods' total share capital remains 2,56,50,000 equity shares of Rs. 10 each (Rs. 25.65 crore).
A non-promoter entity now controls over 72% of Kore Foods, sharply reducing the free float available to retail investors. The move toward 75% could trigger further SEBI obligations for the acquirer and limits any chance of a competing takeover in the future.