Malavika Aatur Mehta and Niraalie Meynon have disposed of their entire shareholding in Expo Engineering & Projects , selling a 3.24% stake through the open market on September 7, 2026.

The transaction involved the sale of 7,37,997 equity shares. This move brings the duo’s total holding in the company to 0.00%, marking a complete exit from the firm.

Transaction Details

The sellers were not part of the promoter or promoter group. The shares were listed on the Bombay Stock Exchange Ltd. The disposal was executed entirely through open market transactions.

Regulatory Disclosure

The disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was signed on September 8, 2026, in Mumbai.

Expo Gas Containers Ltd has a total equity share capital of 2,27,96,400 equity shares of ₹4 each. This capital structure remained unchanged following the transaction.

Aegis Investment Fund PCC acquired 14,14,285 convertible warrants in Expo Engineering & Projects through a preferential allotment on August 20, 2026. The transaction brings the fund’s total diluted stake in the company to 9.96%.

The acquisition follows the conversion of warrants into equity shares, approved by the board after receipt of the balance 75% payment amount. Prior to this transaction, Aegis held 11,70,594 shares carrying voting rights, representing 5.13% of the total share capital and 4.51% of the diluted share capital.

Acquisition Details

The warrants were originally allotted on September 26, 2025, following shareholder approval via a special resolution dated June 27, 2025. The issue price was set at ₹70 per warrant, comprising a face value of ₹4 and a premium of ₹66. These instruments are convertible into equity shares within 18 months from the date of allotment.

Expo Engineering’s total equity share capital remains unchanged at ₹9,11,85,600, consisting of 2,27,96,400 equity shares of ₹4 each. However, the total diluted share/voting capital stands at ₹10,37,68,460, reflecting 2,59,42,115 equity shares including the convertible warrants allotted on a preferential basis to promoter and non-promoter entities under Sections 42 and 62 of the Companies Act, 2013.

What the Numbers Show

The acquisition highlights a significant shift in the diluted ownership structure without altering the immediate paid-up equity capital. By converting warrants that represent 5.45% of the diluted capital, Aegis Investment Fund has nearly doubled its effective influence in the company’s voting rights landscape, moving from a minority stake of 4.51% to approaching the 10% threshold often associated with substantial acquisition disclosures.