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 and its Persons Acting in Concert (PACs), part of Dhani Services' promoter group, acquired 2,25,00,000 equity shares (face value Rs 2 each) on September 17, 2025, via conversion of previously issued convertible warrants on a preferential basis. Of this, 1,12,50,000 shares (1.77% of paid-up capital) were allotted to Valerian Real Estate and an equal number to the PACs (Sameer Gehlaut and related entities). Post-acquisition, the aggregate promoter group holding rose from 29.13% to 31.58% of paid-up share capital, or 31.78% on a voting capital basis. Total promoter holding now stands at 20,08,28,203 shares plus 2,25,00,000 warrants still outstanding. This is a non-cash, planned acquisition arising from an earlier preferential warrant issue, not an open-market purchase.
Promoter group continues to consolidate its stake in Dhani Services through warrant conversion, taking combined holding closer to one-third of voting capital but still well below the 50% mark, so control structure remains unchanged. For shareholders, this signals promoter confidence but dilutes existing holders marginally as warrant conversion increases the share count.