The Exchange has received the disclosure under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
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Vivid Mercantile Limited, which is NOT part of the promoter group, has acquired 49,40,000 equity shares (11.24%) of U. H. Zaveri Ltd through a Rights Issue. Prior to this acquisition, Vivid Mercantile held 7,51,431 shares (7.37%); after the allotment, its holding rose to 56,91,431 shares (18.61%). The acquisition is a result of U. H. Zaveri's rights issue, which tripled the company's equity share capital from ₹1.02 crore (1,01,94,000 shares) to ₹3.06 crore (3,05,82,000 shares). Vivid Mercantile subscribed to its full entitlement plus additional shares, signaling confidence in the company.
A non-promoter entity raising its stake to 18.61% indicates strong external confidence in U. H. Zaveri. Shareholders should note that the acquirer is now closer to the 25% open offer trigger threshold under SAST rules, which could lead to further regulatory action if the stake grows further.