The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Team 24 Foods & Beverages Pvt Ltd
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Team24 Foods & Beverages Private Limited has acquired an additional 25,31,023 equity shares (9.87%) of Kore Foods Limited through an off-market purchase on April 25, 2025. With this acquisition, the acquirer's total holding in Kore Foods has risen from 56.65% (1,45,30,438 shares) to 66.52% (1,70,61,461 shares). The filing was made under Regulation 29(1) of SEBI's Substantial Acquisition of Shares & Takeovers Regulations, 2011. The acquirer is not part of the promoter or promoter group of Kore Foods, indicating this is an external party consolidating its stake. The equity share capital of Kore Foods remains unchanged at Rs. 25.65 crore divided into 2,56,50,000 shares of Rs. 10 each.
Team24 Foods & Beverages has crossed the 65% mark, moving closer to the 75% threshold that is significant for delisting considerations. This is a substantial creeping acquisition of 9.87% in a single transaction, signalling aggressive consolidation of control by an external acquirer, which could materially affect minority shareholders.