The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Niraj Shah
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Niraj Rajnikant Shah, classified as a non-promoter acquirer, has disclosed the acquisition of 1,17,00,000 equity shares of Zodiac Ventures Limited through a Rights Issue allotment. His stake jumped from 0.22% (1,80,737 shares) to 14.37% (1,18,80,737 shares). The shares were allotted at Rs. 6.30 per share on a face value of Re. 1, with the date of receipt of allotment being September 05, 2025. The company's total equity share capital expanded sharply from Rs. 3.76 crore (3.76 crore shares) to Rs. 8.27 crore (8.27 crore shares) as a result of the rights issue. The disclosure was filed on September 09, 2025 under SEBI (SAST) Regulations, 2011.
A non-promoter suddenly holding 14.37% in a small-cap company is a notable development — Niraj Shah is now among the largest shareholders, even though he is not part of the promoter group. Existing shareholders have been substantially diluted due to the rights issue, nearly doubling the share count, which may weigh on earnings per share going forward.