The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Dayakrishna Goyal
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Promoter Dayakrishna Goyal has filed a disclosure under SEBI Takeover Regulations regarding the conversion of 4,00,000 warrants into equity shares of Upsurge Investment & Finance Ltd on 23rd February 2026. Following the conversion, his voting stake increased from 6.98% (7.70% on a diluted basis) to 8.21% of the company's expanded equity capital. The company's total share count rose from 2,00,71,400 to 2,19,21,400 equity shares as part of this allotment, and his total holding remains at 18,00,000 shares. The transaction was carried out via preferential/allotted warrant conversion rather than an open-market purchase.
The promoter's voting interest ticks up modestly to 8.21%, but the holding remains well below any takeover-relevant threshold, so there is no meaningful change in control. The exercise signals promoter willingness to back the company with more equity, though it also increases the share count by about 9% which may dilute non-converting shareholders slightly.