The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sai Manas Rama Mohan Rao Bandlamudi & PACs
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Sai Manas Rama Mohana Rao Bandlamudi, the immediate relative of Director Mr. Rama Mohana Rao Bandlamudi, has acquired 76,000 equity shares of Vega Jewellers Limited through the conversion of convertible warrants via a preferential allotment on 26 April 2025. The acquirer is explicitly classified as part of the non-promoter group. Before the conversion, he held 76,000 warrants representing 1.59% of the company's pre-acquisition capital; after conversion, he holds 76,000 equity shares equal to 0.80% of the post-conversion paid-up capital and 0.78% of the diluted share capital. The company's total equity share capital nearly doubled from Rs. 4.77 crore (47.70 lakh shares) to Rs. 9.48 crore (94.77 lakh shares), reflecting this and likely other concurrent warrant conversions. The disclosure has been filed under both the Takeover Regulations and the Insider Trading Regulations.
This is a technical warrant-to-equity conversion by a non-promoter insider, not a fresh open-market purchase, so it has limited direct impact on the stock price. However, the sharp increase in equity share capital signals significant dilution for existing shareholders from broader warrant conversions.