The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Savji Patel, Ushaben Patel
Awaiting price reaction for this filing.
Two members of the promoter group, Savji D. Patel and Ushaben Savjibhai Patel, filed SAST disclosures reporting a decline in their percentage shareholding, not an actual sale. Savji Patel's holding dropped from 37.39% to 7.21% (31,24,000 shares unchanged), while Ushaben Patel's holding fell from 33.46% to 6.45% (27,96,000 shares unchanged). The decline is entirely due to a preferential allotment of approximately 3.5 crore new equity shares (Re. 1 face value) on 20 March 2026, which increased the company's share capital from Rs. 83.55 lakh to Rs. 4.33 crore. The new shares were allotted to proposed promoters and non-promoters of the company.
No promoter shares were actually sold — the dilution is purely from a large preferential share issuance. However, the promoters' combined stake has shrunk from roughly 70.85% to about 13.66%, signalling a significant change in ownership structure with new investors being inducted. This could lead to changes in board composition and control dynamics going forward.