The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Jaimin Kailash Gupta & PACs
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Jaimin Kailash Gupta along with PACs (Tarachand Gangasahay Agrawal and Qmin Industries Limited) acquired a total of 78,72,515 equity shares (30.56%) of Aarvee Denims and Exports Ltd through an off-market transfer under a Share Purchase Agreement dated September 5, 2024 (with amendments). The acquisition was executed on July 9 and July 10, 2025. Post-acquisition, the acquirer individually holds 52.01% (1,34,00,704 shares), while the collective holding of the acquirer and PACs stands at 65.63% (1,69,09,255 shares) of the paid-up equity share capital. The acquirer is currently not classified as a promoter but will be reclassified as promoter with PACs as promoter group upon completion. Open offer obligations have already been complied with. Additionally, 22,00,000 shares (8.54%) of Jaimin Gupta's individual holding are pledged, though voting rights remain with him.
This is a change-of-control transaction that gives the acquirer and PACs a dominant 65.63% stake, making them the new promoters of the company. Shareholders should expect shifts in management direction and strategic decisions under the new promoter group.