The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Veeram Barter Pvt Ltd
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Veeram Barter Private Limited, a non-promoter entity, has disclosed the acquisition of 39,14,005 equity shares (12.53%) of U. H. Zaveri Limited through a Rights Issue. Prior to this acquisition, Veeram Barter held only 40,820 shares (0.4%) in the company. Post-acquisition, their total holding stands at 39,54,825 shares, representing 12.93% of the share capital. The company's total equity share capital changed from 10,02,56,400 shares to 3,05,82,000 shares (likely reflecting a share consolidation), with the share value moving from Rs 10,02,56,400 to Rs 30,58,20,000. This is a significant non-promoter stake build-up via primary issuance rather than open market purchase.
A non-promoter entity has meaningfully increased its stake to nearly 13% through subscribing to the rights issue, which could be seen as a vote of confidence in the company's growth prospects. However, since this is a primary issuance (new shares) rather than secondary purchase, it does not create any selling pressure on the stock and the acquirer is not bound by the usual 5% creeping acquisition limits applicable to open market buys.