The Exchange has received the disclosure under Regulation 18(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kalpesh Patel & Vandana Patel
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Western Ministil Limited has disclosed an acquisition by Kalpesh Naginbhai Patel and Vandana Patel (Persons Acting in Concert) through a preferential allotment approved by the Board on 16.02.2026. Kalpesh Patel acquired 30 lakh equity shares and 30 lakh convertible warrants, while Vandana Patel acquired 5 lakh equity shares and 15 lakh convertible warrants, all at Rs. 10 per share. The combined holding of the acquirers jumped from 0.00% (Nil) to 63.84% (80 lakh voting rights) in a single transaction. This effectively makes them the new promoters and majority owners of the company.
This is a significant control change event — the acquirers now hold nearly two-thirds of the company, giving them decisive voting power and board influence. For existing shareholders, this signals a change in promoter identity and control, and the low issue price of Rs. 10 may warrant scrutiny on valuation. Minority shareholders should watch for further disclosures on the use of funds and any open offer implications under SEBI Takeover Regulations.