The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Arpit Khandelwal & Axana Estates LLP
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Non-promoter acquirer Arpit Khandelwal and PAC Axana Estates LLP have together acquired 1,30,85,000 equity shares (5.29% of paid-up capital) in Tilaknagar Industries through conversion of warrants into equity shares. Before this acquisition, both the acquirer and PAC held zero shares in the company. Khandelwal individually holds 32.7 lakh shares (1.32%) while Axana Estates LLP holds 98.15 lakh shares (3.97%). The listing/allotment date is March 5, 2026. The company's total equity share capital increased from 24.59 crore shares to 25.56 crore shares as a result of this conversion. This is a Regulation 29(1) disclosure triggered because the combined holding has crossed the 5% substantial shareholder threshold.
A new non-promoter shareholder with a 5.29% stake has emerged in Tilaknagar Industries, which could lead to increased scrutiny on their future intentions. The acquisition was through warrant conversion (not open market), so there is no immediate cash outflow impact, but shareholders should watch for further disclosures if this group continues to accumulate shares.