The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for VISA Industries Ltd & PAC
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VISA Industries Limited, along with PAC VISA Infrastructure Limited (both part of the promoter group of VISA Steel Limited), disclosed an acquisition of 1,65,00,000 equity shares (4.80%) of VISA Steel Limited. The shares were acquired on 6 April 2026 through the exercise of convertible warrants issued under a preferential allotment. Post-acquisition, the promoter group's holding in VISA Steel has risen from 7,44,77,167 shares (57.60%) to 9,09,77,167 shares (62.40%) of the total voting share capital. The total equity share capital of VISA Steel has correspondingly expanded from Rs. 129.29 crore to Rs. 145.79 crore. The acquisition is entirely within the promoter group and was executed via warrant conversion rather than an open-market purchase.
This strengthens the promoter group's control in VISA Steel Limited, taking their stake from 57.60% to 62.40% — a significant consolidation of ownership. Since the acquisition was via warrant conversion (not fresh market buying), existing public shareholders face additional dilution but no change in promoter cash outflow. The move reduces float and may limit trading liquidity in the stock.