The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ashiana Fincap Pvt Ltd
Awaiting price reaction for this filing.
Ashiana Fincap Private Limited, part of the promoter group of Ashiana Ispat, bought 2,52,000 equity shares (3.16% of paid-up capital) from Kamdhenu Steels and Alloys Limited through an off-market transaction. The shares were acquired in two tranches — 2,50,000 shares on March 28, 2026 and 2,000 shares on March 30, 2026. After this acquisition, the acquirer's direct holding rose from 1.75% (1,40,000 shares) to 4.92% (3,92,000 shares). Combined with PACs holding of 31,72,663 shares (39.84%), the total promoter group stake increased from 41.59% to 44.76%. The disclosure was filed under Regulation 29(1) of the SEBI Takeover Code.
The promoter group is consolidating its stake in Ashiana Ispat, moving closer to a 45% holding. This is a positive signal of promoter confidence, though it does not trigger any mandatory open offer since the acquisition is within the permissible creeping limit of 5% per financial year. Shareholders may see this as a sign of insider belief in the company's value.