The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vinoth Kumar Mohandas & PAC
Awaiting price reaction for this filing.
Non-promoter acquirer Vinoth Kumar Mohanadas along with PAC Suseela Kumarappan converted their existing warrants into equity shares of Dugar Housing Developments Ltd (BSE-listed) through a preferential allotment on 12.08.2025. Vinoth Kumar Mohanadas received 24,30,000 shares and Suseela Kumarappan received 2,70,000 shares from the warrant conversion. Post-conversion, Vinoth Kumar Mohanadas holds 53,10,000 shares (54.74%) and Suseela Kumarappan holds 5,90,000 shares (6.08%), taking their combined holding to 59,00,000 shares or 60.82% of the total diluted share/voting capital. The target company's share capital expanded from Rs. 7 crore (70 lakh shares) to Rs. 9.7 crore (97 lakh shares) because of this conversion. The acquirer has confirmed they are not part of the promoter/promoter group and there are no encumbrances on the shares.
The acquirer-PAC group has crossed the 55% control threshold, making them the effective controlling shareholders of Dugar Housing Developments Ltd. Shareholders should note this significant change in control without an open offer, since it arose from a pre-existing warrant conversion. This could lead to changes in board composition and business direction going forward.