The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Naveen Kumar Vanama
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Promoter Naveen Kumar Vanama has converted 2,50,000 convertible warrants into equity shares of Vega Jewellers Ltd, increasing his equity holding from 33,70,075 to 36,20,075 shares. The acquisition was executed via preferential allotment on 19.01.2026. His stake as a percentage of total share capital came in at 35.57% (from 37.41% earlier), while on a fully diluted basis it stands at 35.50% — the slight dip in percentage is due to the overall share capital expanding from Rs. 9.68 crore to Rs. 10.18 crore on conversion of warrants. The promoter now holds zero warrants, meaning his full economic interest is now in equity form.
This is a confidence signal — the promoter is putting skin in the game by converting warrants into actual shares rather than letting them lapse. No fresh cash is deployed (warrants were already allotted earlier), and the slight percentage dip is purely arithmetic due to overall capital expansion, not a reduction in his stake. Minimal direct stock price impact expected, but it removes warrant-related overhang on his holding.