Craft Emerging Market Fund PCC has submitted a revised disclosure under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, to the Bombay Stock Exchange (BSE). The filing provides critical clarification regarding the timing and nature of the fund's acquisition of shares in shoora designs , correcting an omission in a previous submission dated June 5, 2026. This update ensures transparency for investors and regulators concerning the specific date when the fund crossed the threshold requiring disclosure.

The revised document confirms that Craft Emerging Market Fund PCC – Citadel Capital Fund and Craft Emerging Market Fund PCC – Elite Capital Fund, acting as Persons Acting in Concert (PAC), acquired 460,000 equity shares through allotment. The specific date of acquisition is recorded as January 31, 2025. Prior to this transaction, the acquirers held nil shares in the target company. Following the acquisition, their total holding stands at 460,000 shares, representing 9.94% of the total share/voting capital and 9.94% of the total diluted share/voting capital of Shoora Designs Limited.

The filing explicitly states that the acquirers do not belong to the promoter or promoter group of the target company. The mode of acquisition was identified as allotment, rather than open market purchase or preferential allotment. There were no warrants, convertible securities, or other instruments entitling the acquirer to receive shares carrying voting rights involved in this transaction. Furthermore, there are no encumbrances such as pledges or liens on these shares.

Acquisition Details

The total voting capital of Shoora Designs Limited remains unchanged at 4,623,662 shares both before and after the acquisition. The equity share capital also stands at 460,000 / 4,623,662, indicating no change in the overall capital structure due to this specific block acquisition. The total diluted share/voting capital is similarly reported as 460,000 / 4,623,662.

This revision was signed by Ashwanee Ramsurrun on behalf of Craft Emerging Market Fund PCC, located at The Gardens, Ground Floor, Bagatelle Office Park, Bagatelle, Moka 80832, Mauritius. The submission underscores the importance of accurate date reporting in SAST filings, which are crucial for monitoring substantial shareholding changes in listed entities. The initial filing on June 5, 2026, lacked the specific acquisition date, necessitating this corrective measure to comply with SEBI regulations.

Regulatory Compliance

The disclosure adheres to Clause 35 of the Listing Agreement, which mandates timely and accurate reporting of substantial acquisitions. By specifying the acquisition date as January 31, 2025, the filing aligns the regulatory record with the actual transaction timeline. Investors monitoring the shareholder structure of Shoora Designs Limited can now accurately track the entry of Craft Emerging Market Fund PCC into the company's cap table. The absence of any encumbrances or convertible instruments simplifies the interpretation of the fund's current stake, reflecting a straightforward equity position.

Shoora Designs Limited's statutory auditor, Piyush Kothari & Associates, resigned effective July 06, 2026, citing a disagreement over audit fees. The firm, which was appointed on December 30, 2022, submitted its resignation letter on the same date, confirming no other material reasons for the departure. The auditor's term was originally scheduled to expire on March 31, 2028.

The company disclosed that there were no concerns raised by the resigning auditor regarding the management, nor were there any material reasons for the resignation. Consequently, the Audit Committee did not deliberate on the matter, and a disclosure of its views was not applicable. The auditor also confirmed there were no pending audit issues or disagreements with the management on any matter other than the fees.

Piyush Kothari & Associates stated they had performed alternative procedures where necessary and conveyed no objection to the appointment of any other chartered accountant as auditor. The firm had submitted the audited results for the year ended March 31, 2026, prior to resigning.

Resignation Details

The Audit Committee and the Board of Shoora Designs will consider the appointment of new statutory auditors in due course to fill the casual vacancy. The company stated that the appointment would be intimated to the exchanges once finalized. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.