The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Varun Jindal
Awaiting price reaction for this filing.
Varun Jindal, an individual acquirer (not part of the promoter/promoter group), has disclosed an acquisition of 5,28,549 fully paid-up equity shares of Classic Filaments Ltd, representing 8.64% of the company's total paid-up equity and voting share capital. Before this acquisition, the acquirer held no shares, and after the acquisition, his holding stands at 5,28,549 shares (8.64%). The shares were acquired off-market through a Share Purchase Agreement dated October 24, 2025, pursuant to which a public announcement for an Open Offer was also made on the same date. The transaction was completed on December 9, 2025, and the company remains listed on BSE (Scrip Code: 540310) with equity share capital of Rs. 6,11,33,500 divided into 61,13,350 equity shares of Rs. 10 each.
This is a significant new acquisition (8.64%) in Classic Filaments by a non-promoter individual, accompanied by a public Open Offer. Shareholders should watch the open offer details for potential exit opportunity, and the change in shareholding may lead to short-term price volatility. The acquirer's holding going from 0% to 8.64% is also close to the 10% regulatory threshold for further acquisitions.