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 Limited, including entities like Rama Phosphates, Rama Industries, and others, acquired 30,00,000 convertible warrants through a preferential allotment on 21st March 2025. Before this acquisition, the promoter group held 55,78,202 equity shares (53.28%) of the company. After adding the new warrants to their existing holding of 19,50,950 warrants, their total diluted holding rises to 1,05,29,152 shares, representing 68.28% of the diluted share capital. No encumbrance (pledge) is involved. The warrants can be converted into equity shares in the future, which would further increase the promoter group's effective stake.
This is a positive signal showing promoter group confidence in the company, as they are investing more through warrants. However, retail shareholders should note that future conversion of these warrants will dilute their shareholding. The increased promoter control also means lower public float and potentially less liquidity in the stock.