The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Maniyal H Desai & PACs
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Awaiting price reaction for this filing.
Promoter Maniya H Desai and Persons Acting in Concert (PACs), including Hardik Desai Family Trust, filed a SEBI SAST disclosure for acquisition of shares through conversion of warrants on December 16, 2025. Maniya H Desai received 10,800 equity shares and Hardik Desai Family Trust received 89,400 equity shares upon warrant conversion under a preferential offer. The promoter group's total holding remained at 7,842,800 shares; the percentage of holding shifted marginally from 63.39% to 63.70% only because the company's total share capital expanded from ₹11.69 crore to ₹11.80 crore due to the new shares issued on conversion. No fresh market purchase or sale of promoter stake has taken place — only the form of the existing holding changed from warrants to equity shares.
This is a routine regulatory disclosure for a pre-committed warrant conversion, not a new promoter buying or selling. No real change in promoter economic interest or voting power, so the event is neutral for shareholders and should not move the stock price.