The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vasudev Fatandas Sawlani
Awaiting price reaction for this filing.
Promoter Mr. Vasudev Fatandas Sawlani acquired 1,32,000 equity shares (8.80% of capital) of Shantai Industries Ltd through off-market transmission following the death of a fellow co-promoter. His holding rose from 2,40,000 shares (16.00%) to 3,72,000 shares (24.80%) of the company. The transaction happened on 23-07-2024 and does not involve any cash payment or change in the company's total share capital of 15,00,000 equity shares. This is purely an internal reshuffling within the promoter family due to inheritance, not an open market purchase.
No impact on share price or public float, as this is an internal promoter-group transmission with no cash flow. However, the promoter's holding has moved to 24.80%, sitting just 0.20% below the 25% open-offer trigger threshold under SEBI Takeover Regulations, which is a level worth watching for any further movement.