The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Team24 Foods & Beverages Pvt Ltd
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Team24 Foods & Beverages Private Limited, a non-promoter acquirer, has purchased an additional 25,31,023 equity shares (9.87%) of Kore Foods Limited through an off-market deal on 25 April 2025. Before this acquisition, the entity already held 1,45,30,438 shares (56.65%), making it the largest shareholder. After the acquisition, its holding has risen to 1,70,61,461 shares, representing 66.52% of Kore Foods' total share capital. The disclosure has been filed under Regulation 29(2) of SEBI's Takeover Regulations, 2011, which mandates reporting any acquisition of more than 5% stake. The total equity capital of Kore Foods remains unchanged at 2,56,50,000 shares of Rs. 10 each, indicating the shares were acquired from existing holders.
This is a creeping acquisition that tightens Team24 Foods & Beverages' grip on Kore Foods, pushing it closer to a potential 75% upper limit and raising the possibility of a delisting or open offer in the future. For existing minority shareholders, this consolidation of control by a single non-promoter entity reduces free float and could limit liquidity in the stock.