The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sumitkumar Gupta HUF
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On the reaction day the stock moved 3.0 pts less than Nifty Microcap 250 and 2.6 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Sumitkumar Gupta HUF, along with Person Acting in Concert Manisha Gupta, acquired 4,47,000 equity shares (19.07%) of High Street Filatex Limited through a preferential allotment on 13.05.2025. This raised their total holding in the company from 11.39% (73,682 shares) to 22.22% (5,20,682 shares). The acquirer has explicitly confirmed they do not belong to the promoter or promoter group. As a result of the preferential issue, the company's total equity share capital expanded from 6,47,000 shares to 23,43,430 shares of face value Rs.10 each.
A non-promoter entity holding over 22% signals significant external confidence in the company and could be viewed positively by the market. Shareholders should monitor any further acquisitions, as crossing the 25% threshold would trigger a mandatory open offer under SEBI Takeover Regulations.