The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for GMD Corporate Advisors LLP
Awaiting price reaction for this filing.
GMD Corporate Advisors LLP, a non-promoter entity, acquired 1,90,800 equity shares (5.6% stake) of Ashoka Refineries Limited through an off-market transaction on 21-05-2026. The total share capital of the company remains unchanged at 3,40,19,000 shares. This disclosure is mandatory under SEBI SAST Regulations since the acquisition exceeds the 5% threshold. The acquirer explicitly confirmed it does not belong to the Promoter/Promoter group of the target company.
The 5.6% off-market acquisition by a non-promoter entity may signal potential accumulation of shares or change in minority shareholding pattern. Shareholders should monitor further disclosures as any additional purchases would require fresh filings.