The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Bhavesh Mahesh Karani & Others
Awaiting price reaction for this filing.
The promoter group of Rama Petrochemicals Ltd, led by Bhavesh Mahesh Karani along with persons acting in concert (including Rainbow Agri Industries Ltd, Haresh Ramsinghani, and related entities), acquired 4,94,442 equity shares of Rs. 10 each on 26th March 2025 through a preferential allotment. Post-acquisition, the promoter group's total holding increased from 55,78,202 shares (53.28%) to 68,32,952 shares (58.28%) of the voting capital. Additionally, the promoter group holds 49,50,950 warrants that could further increase their stake upon conversion. The company's total equity share capital expanded from 1.04 crore shares to 1.17 crore shares as a result of this preferential issue.
This signals continued promoter confidence and consolidation of control in Rama Petrochemicals. The preferential allotment at face value to the promoter group dilutes minority shareholders but strengthens the promoters' grip, with potential for further increase if warrants are exercised.