Jayesh Patel acquired a 7.66% stake in Craftroot Retail Limited through the purchase of 2,56,600 equity shares. The transaction, which concluded on June 25, 2026, was executed pursuant to a Share Purchase Agreement entered on December 15, 2025, and an open offer dated February 07, 2026. Following the completion of the open offer, the acquirer became the promoter of the target company.

Details of Acquisition

The disclosure was submitted to BSE Limited under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prior to this acquisition, Jayesh Patel held 0 shares in the company. The shares were acquired through a combination of the Share Purchase Agreement and the open offer process.

Company Capital Structure

The equity share capital of Craftroot Retail Limited remains at ₹3,35,00,000, comprising 33,50,000 equity shares of ₹10 each. The total diluted share capital also stands at 33,50,000 shares. The company was formerly known as Nirbhay Colours India Limited.

Craftroot Retail Limited has formally responded to a warning letter issued by BSE Limited regarding non-compliance with specific SEBI regulations tied to the company's recent name change. The letter, referenced as DCS/NC/TS/WL/011/2026-2027 and dated June 01, 2026, cites violations of Regulation 45(1) and Regulation 45(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board attributed the lapse to a change in management and control following an open offer process, characterizing the non-compliance as inadvertent rather than intentional.

The Board of Directors reviewed the warning letter and the circumstances leading to the non-compliance during its meeting held on June 13, 2026. In its response to the exchange, the company confirmed that necessary systems and internal controls have been strengthened to ensure strict adherence to the SEBI (LODR) Regulations, 2015 and to prevent recurrence. The Company Secretary and Compliance Officer, Mahesh Patel, submitted the formal compliance response to BSE Limited.

Regulatory Details

The warning letter specifically addresses procedural lapses connected to the change of the company's name from "Nirbhay Colours India Limited" to "Craftroot Retail Limited". The company has reaffirmed its commitment to maintaining high standards of corporate governance and regulatory compliance.