Disclosure under regulation 2992) of SEBI(SAST) regulation, 2011
VGL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mr. Jaimin Kailash Gupta, designated person, acquired 1,51,571 equity shares (0.65% of paid-up capital) of Aarvee Denims and Exports Limited on April 11, 2025 through an off-market transfer under a Share Purchase Agreement (SPA) dated September 5, 2024 and its amendments. After the acquisition, Jaimin Gupta's individual holding stands at 88,12,561 shares (37.57%), and collectively with PACs (Tarachand Gangasahay Agrawal and Qmin Industries Limited) at 90,36,740 shares (38.52%), up from 37.87% earlier. The acquirer is not currently classified as a promoter but, upon completion of the SPA transaction, will be designated as promoter and the PACs as promoter group, marking a change of control at the company. The acquirer has confirmed compliance with the SEBI (SAST) open offer requirements. The target company's equity share capital remains unchanged at ₹23.46 crore consisting of 2,34,59,800 shares of ₹10 face value.
This signals a change of control at Varvee Global Ltd (formerly Aarvee Denims) with a new promoter group taking over, though their combined holding at 38.52% stays below the 50% majority mark. Existing shareholders should expect shifts in management influence and strategic direction under the new promoter.