The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Transwarranty Finance Ltd
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Transwarranty Finance Ltd, part of the promoter group of Vertex Securities Ltd, has disclosed under SEBI SAST Regulation 29(2) that its voting rights in Vertex Securities have dropped from 53.04% to 42.43% — a fall of about 10.61 percentage points. The number of shares held remained unchanged at 3,92,53,950, but Vertex Securities issued new partly paid-up equity shares through a Rights Issue on March 30, 2026, and Transwarranty Finance renounced (did not subscribe to) its Rights Entitlements. As a result, the promoter group's stake fell below the 50% majority threshold for the first time. On a fully diluted basis (assuming the partly paid shares are converted to fully paid), the holding would further reduce to 26.52%.
This is a significant event for shareholders — Vertex Securities now effectively becomes a 'non-promoter-controlled' or promoter-below-50% company, which may change governance dynamics and signals that the promoter group did not want to (or could not) put in more capital to maintain majority control. The renunciation of rights means the company raised capital from other shareholders, which could be seen as dilution but also as a sign of fresh investor interest in the Rights Issue.