Kreon Financial Services Limited acquired a 0.99% stake in Gujarat Winding Systems Limited through open market purchases, pushing its total holding to 5.96%.

The acquisition, completed on August 25, 2026, triggered a disclosure under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Shareholding Details

Kreon Financial bought 48,268 equity shares carrying voting rights. This addition raised its pre-acquisition holding of 241,284 shares (4.97%) to a post-acquisition total of 289,552 shares.

The transaction involved only equity shares with no warrants, convertible securities, or encumbrances reported. The acquired shares rank pari-passu with existing shares.

Regulatory Context

The filing was submitted to the BSE Limited on August 27, 2026, by Jaijash Tatia, Chairman and Managing Director of Kreon Financial Services Limited. The target company’s total voting capital remains unchanged at ₹4,85,79,000 (48,57,900 equity shares of ₹10 each).

Sanjeev Lunkad and his group of persons acting in concert (PAC) reduced their stake in Gujarat Winding Systems to 12.12% following an open market sale of 44,100 equity shares on August 25, 2026.

The disposal brings the consolidated holding below the 13% threshold mandated for disclosures under SEBI regulations. The acquirer and PACs include Sneha Lunkad, Riddhi Lunkad, Rushank SS Lunkad, and Snehjeev Ventures Pvt Ltd.

Transaction Details

The group held 632,994 shares, representing 13.03% of the total voting capital, prior to the transaction. The sale of 44,100 shares (representing 0.91% of total capital) was executed in the open market.

Regulatory Disclosure

The disclosure was filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing confirms that none of the shares held are encumbered or pledged. The total equity share capital of Gujarat Winding Systems remains at ₹4,85,79,000, comprising 48,57,900 equity shares of face value ₹10 each.

What the Numbers Show

The reduction in stake is significant as it moves the promoter-like group below the 13% disclosure trigger line. With no encumbrances reported on the remaining 588,894 shares, the holding represents unpledged equity, suggesting a strategic reduction rather than a forced liquidation due to margin calls.