The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sam Realtown Pvt Ltd
Awaiting price reaction for this filing.
Sam Realtown Private Limited has disclosed the acquisition of 19,67,350 equity shares (10.00%) in SR Industries Limited under SEBI SAST Regulation 29(1). The acquisition was carried out via preferential allotment pursuant to an NCLT Chandigarh Bench order dated 1 July 2024, executed under the Insolvency and Bankruptcy Code (IBC). As part of the IBC-driven capital restructuring, the previous promoters' 19.51% stake (38,39,265 shares) was cancelled, public shareholders were allotted 5% equity on a proportionate basis, and 95% of the new equity was allotted to new promoters who will collectively infuse Rs. 11.70 crore into the company. The total equity share capital was restructured to Rs. 19.67 crore divided into 1,96,73,500 equity shares of Rs. 10 each.
This marks a complete change in control of SR Industries Limited through the IBC route, with old promoter holdings wiped out and new promoters (including Sam Realtown) taking over. Existing shareholders should expect a fresh start for the company backed by Rs. 11.7 crore of fresh capital infusion, though legacy equity has been significantly diluted through restructuring.