The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sandeep Agrawal
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Sandeep Agrawal and Anupriya Sandeep Agrawal (acting in concert) have acquired 6,25,000 shares of High Street Filatex Limited (BSE Code: 531301) through a preferential issue on 28.03.2025. The acquisition took their holding from 0 to 26.67% of the total share/voting capital (14.82% of diluted share/voting capital). The acquirers are explicitly stated to not belong to the promoter or promoter group. Total equity share capital of the company remains at 23,43,430 shares of Rs. 10 each, while total diluted capital post-allotment stands at 42,18,430 shares. This acquisition crosses the 25% threshold under SAST Regulations, which typically attracts open offer obligations for the acquirer.
This is a significant creeping acquisition that pushes a non-promoter entity above the 25% SAST trigger threshold, which may compel an open offer to public shareholders. Existing shareholders should watch for any further disclosures regarding an open offer and potential change in control dynamics at the company.