The Exchange has received the disclosure under Regulation 29(1) & 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kenil Thathagar
Awaiting price reaction for this filing.
Kenil Thathagar, along with Person Acting in Concert (PAC) Jaysukhbhai Thathagar, has acquired 4,30,928 equity shares (8.76%) of Gopal Iron & Steels Company Gujarat Limited through open market purchases on November 20 and 21, 2025. Before this acquisition, the acquirer held zero shares; after the purchase, their combined holding stands at 8.76% of the company's total equity share capital (49,17,100 shares of Rs. 10 each). The acquisition was done via market purchase across two trading days — 2,30,928 shares on November 20 and 2,00,000 shares on November 21. The acquirer has explicitly confirmed they do not belong to the promoter or promoter group of the company. This disclosure was filed under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, triggered because the acquisition crossed the 5% disclosure threshold.
A non-promoter entity has built an 8.76% stake in just two trading days, sitting just below the 10% substantial acquisition trigger. Shareholders should watch for further purchases, as crossing 10% would require a mandatory open offer under SEBI takeover rules.