The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Bhanu Prakash Vemeshetty
Awaiting price reaction for this filing.
Non-promoter individual Bhanu Prakash Vemeshetty has acquired 49,51,350 equity shares, representing 17.70% of the total share/voting capital, through subscription to the company's Rights Issue. Before this acquisition, the acquirer held 0 shares in the company. The company's total equity share capital expanded from 39,96,000 shares (Rs 3.99 crore) to 2,79,72,000 shares (Rs 27.97 crore), reflecting a 7-fold expansion due to the rights issue. The date of receipt of intimation of allotment was 26-02-2026, and the disclosure was filed on 05-03-2026. The acquisition pushed the acquirer's holding beyond the disclosure threshold under Regulation 29(1).
This is a significant equity dilution event for existing shareholders, with the share base increasing roughly 7x. A non-promoter individual now holds nearly 18% of the company, giving meaningful minority influence. Shareholders should watch for any further disclosures, board changes, or strategic actions that may follow this large entry.