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 Pvt Ltd, a non-promoter entity, acquired an additional 15,37,860 equity shares (5.99%) of Kore Foods Limited through an off-market deal on May 5, 2025. After this acquisition, Team24's total holding in Kore Foods rose from 1,70,61,461 shares (66.52%) to 1,85,99,321 shares (72.51%). The acquirer is not part of Kore Foods' promoter group, and the shares were acquired off-market rather than through open market purchases. Kore Foods has a total equity share capital of 2,56,50,000 shares of Rs. 10 face value.
This is a significant creeping acquisition by a non-promoter entity, pushing its stake in Kore Foods closer to the 75% threshold that would typically trigger delisting requirements under takeover rules. Shareholders should watch for further disclosures on the intent behind the consolidation and whether an open offer or delisting proposal could follow.