Shah Alloys PACs raise stake to 6.61% via open market buys
- PACs raised aggregate stake to 6.61% from 4.41%
- Acquired 435,576 shares via open market on Sept 9
- Raviraj Developers holds largest PAC stake at 3.01%
- Disclosure filed under SEBI SAST Regulations
*this image is generated using AI for illustrative purposes only.
A group of persons acting in concert (PACs) associated with Shah Alloys Shah Alloys increased its aggregate stake in the company to 6.61% following open market acquisitions.
The acquisition of 435,576 equity shares was completed on September 9, 2026, triggering a disclosure under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was submitted to the BSE on September 10, 2026.
Acquisition Details
The acquirers, led by Mr. Manishkumar Jashwantlal Shah and Mr. Bhadreshkumar Jashwantlal Shah, along with five associated entities, crossed the 5% threshold mandated for disclosure. The total shareholding rose from 872,983 shares (4.41%) to 1,308,559 shares (6.61%).
| Particulars | No. of Equity Shares | % of Total Share Capital |
|---|---|---|
| Aggregate shareholding before acquisition | 872,983 | 4.41% |
| Shares acquired | 435,576 | 2.20% |
| Aggregate shareholding after acquisition | 1,308,559 | 6.61% |
The mode of acquisition was exclusively through the open market. The total equity share capital of Shah Alloys Limited remains unchanged at 1,97,97,540 equity shares of ₹10 each.
Entity-wise Shareholding
The aggregate holding comprises interests held directly by the promoters and through various corporate entities. Raviraj Developers Limited holds the largest portion of the PAC stake.
| Name of Acquirer / PAC | Pre-Acquisition Holding | Shares Acquired | Post-Acquisition Holding | Post-Acquisition % |
|---|---|---|---|---|
| Manishkumar Jashwantlal Shah | 112,076 | - | 112,076 | 0.57% |
| Bhadreshkumar Jashwantlal Shah | 36,942 | 55,000 | 91,942 | 0.46% |
| CEE Note Credit Caplease Limited | 56,102 | 10,000 | 66,102 | 0.33% |
| Atrun Fiscal Private Limited | 64,626 | 104,176 | 168,802 | 0.85% |
| Darshan Financial Services Private Limited | 112,636 | 65,000 | 177,636 | 0.90% |
| Tejash Finstock Private Limited | 86,870 | 10,000 | 96,870 | 0.49% |
| Raviraj Developers Limited | 403,731 | 191,400 | 595,131 | 3.01% |
| Total | 872,983 | 435,576 | 1,308,559 | 6.61% |
The acquirers noted that while the shareholdings of the individual companies differ, they share common directors in Mr. Bhadresh J. Shah and Mr. Manish J. Shah. The disclosure was made voluntarily to ensure transparency regarding the crossing of the 5% holding threshold through these common directors.
Historical Stock Returns for Shah Alloys
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.28% | -13.31% | +32.52% | +61.98% | +22.34% | 0.0% |
Will the PACs continue accumulating shares in the open market, potentially triggering further disclosure thresholds or a formal tender offer under SEBI takeover regulations?
How might this increased promoter-associated stake influence Shah Alloys' stock price volatility and liquidity in the near term?
Are there indications that this share accumulation is part of a broader strategic restructuring or potential delisting plan for Shah Alloys?
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