The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pratibha Goyal
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Pratibha Goyal, a promoter of Upsurge Investment & Finance Ltd, filed a Regulation 29(2) disclosure with BSE on 25 February 2026. She acquired 10,00,000 equity shares through conversion of warrants on 23 February 2026, increasing her direct voting rights holding from 11.39% to 14.99%. Simultaneously, 10,00,000 shares that were previously encumbered (pledged) were released back to her. Her total holding remained at 32,96,330 shares, but the voting percentage rose as pledged shares became free and new shares were allotted. The company's total equity capital increased from 2,00,71,400 to 2,19,21,400 shares due to the warrant conversion.
The promoter's effective voting stake has strengthened from about 11.39% to nearly 15%, signalling continued promoter commitment to the company. The release of pledged shares reduces encumbrance risk, which is generally viewed positively by retail investors.