The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Hardik Desai Family Trust & PACs
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Hardik Desai Family Trust along with Persons Acting in Concert (PACs), part of the promoter group, acquired 89,400 equity shares (Trust) and 10,800 shares (Maniya H Desai) on December 16, 2025 through the conversion of warrants allotted under a preferential issue. After the acquisition, the combined promoter group holding stands at 63.70% of the equity share capital (up from 63.39% prior), or 62.78% on a fully diluted basis. Total diluted share capital expanded to Rs 12.49 crore (1.24 crore shares of Rs 10 each) following the conversion. This is a routine SAST disclosure filed because the promoter group's shareholding crossed certain reporting thresholds due to the warrant conversion.
No material impact for shareholders — the acquisition is simply the conversion of warrants already allotted to the promoter group, not a fresh purchase from the market. Promoter control remains strong at ~63.7%, indicating continued confidence in the company.