The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ankit Garg & PAC
Awaiting price reaction for this filing.
Ankit Garg, along with PAC Nidhi Garg, acquired 9,35,000 equity shares (5.33% of total share capital and 5.19% on a diluted basis) in Omansh Enterprises Limited through a preferential allotment. This was a fresh entry, as their holding before the acquisition was Nil. The shares were issued upon conversion of compulsory convertible preference shares (CCPS) into fully paid-up equity shares of Rs. 2 each on 10 June 2025. The acquirer is not part of the promoter or promoter group. As a result of the CCPS conversion, the company's total equity share capital expanded sharply from 50,28,007 shares (Rs. 1.00 crore) to 1,75,28,007 shares (Rs. 3.50 crore), nearly tripling the equity base.
This is a significant equity dilution event for existing shareholders, as the share count nearly tripled through the CCPS conversion. A new non-promoter shareholder now holds over 5% of the company, which may raise concerns about share price pressure from future selling or signal a change in the company's capital structure strategy.