The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sarala Sanghi & Others
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The promoter group of Uday Jewellery Industries Ltd, led by Sarala Sanghi and family members, disclosed the acquisition of 73,34,305 equity shares (face value INR 10 each) pursuant to a scheme of amalgamation of Narbada Gems and Jewellery Limited (Transferor Company) with Uday Jewellery Industries (Transferee Company). The shares were allotted on March 5, 2026. As a result, the total equity share capital of Uday Jewellery increased from 2,38,21,900 shares to 3,36,02,925 shares. The combined promoter and promoter group holding rose to 2,51,79,481 shares, representing 74.93% of the total share/voting capital and 74.38% of the diluted share/voting capital. The acquisition was via merger-driven allotment, not a market purchase, so no cash was deployed by the acquirers.
Promoter family's control has strengthened significantly, with their stake rising from around 52% to nearly 75% of the company, which may reduce free float and limit liquidity in the stock. The transaction is non-cash and part of a corporate restructuring, so there is no direct valuation impact, but existing minority shareholders now hold a smaller proportional share in the merged entity.