The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Hemanth Reddy Dandem
Awaiting price reaction for this filing.
Hemanth Reddy Dandem, a non-promoter individual, has disclosed an acquisition of 58,39,397 equity shares (20.88% of share capital) in Capricorn Systems Global Solutions Ltd through a Rights Issue, with shares allotted on February 26, 2026. His holding has increased from 5,21,900 shares (13.06%) to 63,61,297 shares (22.74%) post-acquisition. The company's total equity capital expanded from 39,96,000 shares to 2,79,72,000 shares (a 7x increase), indicating a substantial rights issue. The acquirer is not part of the promoter/promoter group, and this disclosure was triggered because his holding crossed the prescribed threshold under Regulation 29(2).
This is a non-promoter individual increasing his stake via a rights issue rather than open market purchase, which is generally a positive signal of confidence in the company. With the holding now at 22.74%, the acquirer is approaching the 25% open offer trigger threshold, meaning further acquisitions could attract additional SEBI obligations. Shareholders should note the significant dilution from the rights issue.