The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Neev Nirav Jogani
Awaiting price reaction for this filing.
Mr. Neev Nirav Jogani, a non-promoter acquirer, has acquired 18,01,481 fully paid-up equity shares of Span Divergent Ltd through a preferential allotment on 28th March 2026. This represents 24.80% of the company's total share and voting capital. Before this acquisition, the acquirer held NIL shares, so his post-acquisition holding is 24.80%, just below the 25% trigger threshold under SAST regulations. The company's total equity share capital increased from 5,46,17,470 to 7,26,32,280 shares as a result of this allotment.
This brings in a substantial non-promoter shareholder holding nearly a quarter of the company, which could influence future control dynamics and may attract market attention. Since the holding is close to the 25% open-offer trigger level, any further acquisition could obligate a mandatory open offer to other shareholders.