The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Devendra Parekh, Karuna Parekh
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Promoters Devendra Bharat Parekh and Karuna Parekh, who are Persons Acting in Concert (PAC), have disclosed acquisitions under SEBI SAST Regulation 29(2) through subscription to a Rights Issue dated March 9, 2026. Devendra Parekh acquired 16,83,000 equity shares, increasing his holding from 33,65,390 (30.04%) to 50,48,390 shares. Karuna Parekh acquired 11,88,000 shares, raising her holding from 23,71,670 (21.17%) to 35,59,670 shares. The company's equity share capital expanded from approximately 1.12 crore shares to around 2.13 crore shares as part of the rights issue. No encumbrance (pledge) activity was reported by either acquirer. Both transactions were executed through the Rights Issue route rather than open-market purchases.
Positive signal of promoter confidence, as the promoters chose to subscribe to the rights issue rather than let their entitlements lapse. However, their percentage holdings were diluted due to the issuance of new shares (Devendra from 30.04% to 23.64%, Karuna from 21.17% to 16.66%), so control implications are neutral.