The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Valerian Real Estate Pvt Ltd & PACs
Awaiting price reaction for this filing.
Valerian Real Estate Pvt Ltd along with Persons Acting in Concert (PACs) — Mr. Sameer Gehlaut, Indiabulls Developers Pvt Ltd, and GY-Infacon Pvt Ltd — has converted 2,25,00,000 convertible warrants into 2,25,00,000 fully paid-up equity shares of Dhani Services Ltd on September 22, 2025. The warrants were originally issued on a preferential basis. Post-conversion, Valerian holds 1,12,50,000 shares (3.37%) and PACs hold 20,08,28,203 shares (30.49%), taking the aggregate promoter group holding to 22,33,28,203 shares or 33.91% of the voting capital. The acquirer belongs to the Promoter/Promoter group. Voting rights on partly paid-up shares are calculated proportionately at 55% of paid-up value.
The promoter group is strengthening its stake in Dhani Services, signalling internal confidence. However, at 33.91% the promoter holding remains below the 50% majority mark, which keeps the company in the creeping acquisition zone and could affect perceptions of control. Existing shareholders should note the increased promoter alignment with company performance.