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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On the reaction day the stock moved 0.4 pts more than Nifty Microcap 250 and 0.5 pts more than its Other Food Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Team24 Foods & Beverages Pvt Ltd, which already held 56.65% (1,45,30,438 shares) in Kore Foods Limited, acquired an additional 25,31,023 equity shares (9.87%) via an off-market purchase on April 25, 2025. After the acquisition, its total holding stands at 1,70,61,461 shares, or 66.52% of Kore Foods. The acquirer has confirmed it is NOT part of the promoter or promoter group of Kore Foods. The disclosure is filed under Regulation 29(2) of SEBI's Substantial Acquisition of Shares & Takeovers (SAST) Regulations, 2011.
The acquirer's stake now exceeds the two-thirds mark, giving it decisive control over Kore Foods. However, as a non-promoter holding between 25-75%, the 9.87% acquisition falls within the 10% per financial year creeping acquisition limit, so no mandatory open offer is triggered. Retail investors should note increased ownership concentration and reduced public float in Kore Foods.