Balgopal Commercial promoters have filed sequential mandatory disclosures under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following multiple equity share acquisitions through warrant conversions. The company submitted these Regulation 29(2) disclosures to BSE Limited on March 24, 2026, providing detailed information about the shareholding changes resulting from preferential allotments completed on March 21, 2026.

Sequential SEBI SAST Regulatory Compliance

Both Sandeep Jindal and Vijay Laltaprasad Yadav filed separate Forms under Regulation 29(2) of SEBI (SAST) Regulations, 2011, as promoters of Balgopal Commercial Limited. The disclosures reveal complete details of their respective shareholding changes following the warrant conversion process, including comprehensive information about persons acting in concert (PAC). The official filings were submitted to both BSE Limited and the company's compliance officer on March 24, 2026.

Updated Promoter Group Shareholding Pattern

The SEBI disclosures provide detailed information about the promoter group's shareholding pattern after both acquisitions. The promoter group includes several entities acting in concert, with the total promoter group holding maintained at 50.39% following the sequential warrant conversions.

Share Capital Structure Impact

The warrant conversions have significantly impacted the company's share capital structure. The equity share capital increased from Rs. 19.01 crore to Rs. 20.91 crore following the conversion of 19,00,000 warrants into equity shares with a face value of Rs. 10.00 each.

Outstanding Warrants and Future Conversions

The disclosure indicates that 26,00,000 warrants remain outstanding for conversion. The total diluted share capital, assuming full conversion of outstanding warrants, would be Rs. 23.51 crore comprising 2,35,10,000 equity shares. Originally, 45,00,000 warrants were allotted, of which 19,00,000 have now been converted through these sequential transactions.

The company will apply for listing and trading approval from the stock exchange for the newly allotted equity shares. These sequential acquisitions represent a coordinated strategy by the promoter group to strengthen their collective control over the company through the systematic conversion of previously allotted warrants.

Balgopal Commercial Limited has announced a significant real estate development partnership through its wholly owned subsidiary. Dreamax Buildtech Private Limited has entered into a Joint Development Agreement (JDA) with Aakshya Ara Developers LLP on March 12, 2026, marking a strategic move in the Mumbai real estate market.

Project Details and Location

The joint development agreement covers an immovable property measuring 3770.80 square metres, strategically located at GTB Nagar, Lalbaug, Mumbai-400022. The property bears Survey No. 292 (part) and C.T.S No. 639 of Village Kurla, Taluka Kurla in Mumbai Suburban District.

Partnership Structure and Financial Terms

The joint venture establishes a clear partnership ratio between the two entities, with Dreamax Buildtech Private Limited holding 40% and Aakshya Ara Developers LLP maintaining 60% ownership. The financial arrangement includes a substantial security deposit commitment from the development partner.

Operational Framework and Responsibilities

Under the agreement terms, Aakshya Ara Developers LLP will assume comprehensive responsibility for the project development. The joint developer will undertake planning, development, construction, and implementation of the proposed real estate project on the identified land. Key operational responsibilities include:

• Managing 100% of construction costs
• Obtaining all necessary RERA approvals
• Completing the project within 48 months from land handover
• Conducting all marketing activities under the "Aakshya" brand name
• Assuming all operational and legal risks post-handover

Dreamax Buildtech Private Limited, as the New Developer, will be responsible for title clearance and demolishing existing structures on the property.

Strategic Benefits and Risk Management

The agreement provides a structured legal framework that allows Aakshya Ara Developers LLP to proceed with property development while ensuring Dreamax Buildtech Private Limited remains protected from operational defaults or third-party claims. The revenue and developed area from the project will be shared between the parties according to the established joint venture ratio, subject to receiving necessary approvals from relevant statutory authorities.

The partnership represents a domestic joint development initiative that leverages the expertise of both entities in the Mumbai real estate market. The arrangement allows Balgopal Commercial's subsidiary to participate in real estate development while transferring operational responsibilities to an experienced development partner.