The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Bhavesh Mahesh Karani & Others
Awaiting price reaction for this filing.
The promoter and promoter group of Rama Petrochemicals, led by Bhavesh Mahesh Karani and Haresh Ramsinghani along with 14 PACs, disclosed the acquisition of 30,00,000 convertible warrants through a preferential allotment on 21st March 2025. Before the acquisition, the promoter group held 55,78,202 equity shares (53.28%) in the company. After the allotment, their total potential holding including warrants rises to 1,05,29,152 shares, representing 68.28% of the fully diluted share capital. The warrants alone account for 49,50,950 shares (32.11%) on a diluted basis. No equity shares were bought or sold in the open market, and no encumbrance was created on existing shares.
This is a significant promoter-driven capital infusion that increases the promoter group's potential diluted stake from 53.28% to 68.28%, strengthening promoter control. While no immediate share price impact is expected, the conversion of warrants in the future could lead to equity dilution for non-promoter shareholders.