The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for North Star Opportunities Fund VCC - Bull Value ....
Awaiting price reaction for this filing.
Mauritius-based North Star Opportunities Fund VCC – Bull Value Incorporated VCC Sub-Fund has disclosed an acquisition of 11,40,000 equity shares in Dugar Housing Developments Limited, representing 16.29% of the company's total share capital and 11.75% of its diluted share capital. The shares were acquired through a preferential allotment on 12.06.2025, and the fund had no prior holding in the company. The acquisition is a one-time, non-promoter investment, and the target's equity share capital expanded from ₹30 lakh (3 lakh shares) to ₹7 crore (70 lakh shares) post-allotment. The acquirer is classified as a non-promoter entity, which is typical of a foreign portfolio investor making a strategic investment via preferential route.
The fund's fresh 16.29% entry makes it a significant non-promoter shareholder, which may bring in long-term institutional interest but also introduces a potential overhang if the fund later decides to exit. Shareholders should track any further disclosures from the fund, as crossing the 5% SAST threshold triggers ongoing reporting obligations.