The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vinoth Kumar Mohanadas
Awaiting price reaction for this filing.
Vinoth Kumar Mohanadas, along with Person Acting in Concert (PAC) Suseela Kumarappan, has acquired a substantial stake in Dugar Housing Developments Ltd through a preferential allotment dated 12 June 2025. Prior to the acquisition, they held nil shares in the target company. Post-acquisition, they collectively hold 59,00,000 shares representing 84.28% of the total voting capital (60.82% on a diluted basis). Of this, Vinoth Kumar Mohanadas holds 28,80,000 equity shares (41.14%) plus 24,30,000 convertible warrants (34.71%), while Suseela Kumarappan holds 3,20,000 equity shares (4.57%) plus 2,70,000 warrants (3.86%). The acquirers are explicitly not part of the promoter/promoter group. The target company's equity capital expanded from Rs. 30 lakhs (3,00,000 shares) to Rs. 7 crores (70,00,000 shares) as a result of this preferential issue.
This is a control-changing event — a non-promoter acquirer has taken an 84.28% stake via preferential allotment, effectively resulting in a takeover of Dugar Housing Developments Ltd. Shareholders of the target company should expect a potential open offer trigger under SEBI Takeover Regulations and significant changes in board control and management going forward.