The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vasudev Sawlani
Awaiting price reaction for this filing.
Promoter Mr. Vasudev Fatandas Sawlani disclosed an off-market acquisition of 1,32,000 equity shares (8.80%) of Shantai Industries Limited under Regulation 29(2) of SEBI Takeover Regulations. The shares were acquired through transmission following the death of a fellow co-promoter. Post-acquisition, the promoter's holding rose from 2,40,000 shares (16.00%) to 3,72,000 shares (24.80%) of the company. The acquisition took place on 16-08-2024 and the total share capital of the company remains at 15,00,000 equity shares of Rs. 10 each. This is not a market purchase but an inheritance-based transfer of shares within the promoter group.
The promoter's stake has risen to 24.80%, sitting just below the 25% creeping acquisition threshold under SEBI Takeover Rules. Any further acquisition crossing 25% would trigger an open offer obligation, so shareholders should watch for any additional promoter activity. The transmission-based nature means no fresh capital was deployed and the transfer is within the promoter family, making it a neutral event for stock price.