The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kalpesh Patel & Other
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Kalpesh Naginbhai Patel, along with PAC Vandana Patel, has acquired 35,00,000 equity shares (56.92% of total equity capital and 26.92% of diluted capital) of Western Ministil Limited through a preferential allotment on February 16, 2026. They were also allotted 45,00,000 convertible warrants (34.62% of diluted capital), taking total combined holding to 80,00,000 shares, representing 56.92% of equity and 61.54% of diluted share capital. The acquirer is currently classified as a public shareholder, but a public announcement was already made on November 26, 2025 for an open offer under Regulations 3 & 4 of SEBI (SAST), after which they will be treated as the promoter. The company's equity share capital rose from 21,57,186 shares to 61,57,186 shares of Rs. 10 face value following this allotment.
This is effectively a change-of-control transaction — one acquirer is taking a 56.92% stake via preferential allotment and will become the new promoter after the open offer. Shareholders should brace for management/board changes, and the stock may see sharp price moves tied to the open offer price and any differential between market price and allotment price.