The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pine Oak Global Fund
VARDMNPOLY · price
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Pine Oak Global Fund, a Mauritius-based foreign investor, has bought 1,00,00,000 (1 crore) equity shares of Vardhman Polytex Ltd from the open market on 16 February 2026. This acquisition lifted its stake from 3.32% to 5.50% of the company's share capital (4.97% on a diluted basis), triggering the SEBI Regulation 29(1) disclosure requirement for crossing the 5% threshold. The acquirer is not part of the promoter group, and the shares were acquired in cash via open market purchases. Vardhman Polytex's total equity share capital stands at 45.88 crore shares of Re.1 each, with another 4.95 crore convertible warrants outstanding that could raise the fully diluted base to 50.84 crore shares.
A foreign institutional investor increasing its stake beyond 5% is generally viewed as a positive signal of confidence in the company, though it does not yet carry any board-level influence. Investors should watch whether Pine Oak continues to buy toward the 10% mark, which would trigger further creeping acquisition disclosures.