The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vinoth Kumar Mohanadas
Awaiting price reaction for this filing.
Vinoth Kumar Mohanadas (acquirer) along with Suseela Kumarappan (Person Acting in Concert) has disclosed conversion of 27,00,000 warrants into equity shares of Dugar Housing Developments Ltd through a preferential allotment dated 12.08.2025. Post-conversion, their combined equity holding stands at 59,00,000 shares, representing 60.82% of the company's total voting capital (up from 45.71% on a shares-only basis prior to conversion). The acquirer's stake individually rose to 54.74% (Vinoth Kumar Mohanadas) and 6.08% (Suseela Kumarappan). The target company's equity share capital increased from Rs. 7 crore (70 lakh shares of Rs. 10 each) to Rs. 9.7 crore (97 lakh shares of Rs. 10 each). The acquirer is explicitly classified as a non-promoter / non-promoter group entity.
This is a pre-committed warrant conversion via preferential allotment, not a fresh open-market purchase, so there is no immediate buying pressure or cash outflow impact on the stock. The acquirer, though non-promoter, now holds a controlling 60.82% stake, which signals a deepening financial commitment but does not affect promoter shareholding or control of the company.