Promoters Vikas Jain and Piyush Jain have reduced their shareholding in South West Pinnacle Exploration Limited by disposing of 11,65,820 equity shares through open market sales on June 22 and June 23, 2026. The transactions were disclosed to the stock exchanges under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disposal has lowered the promoter group's total voting stake to 64.94% and the diluted voting stake to 66.28%.

Details of Share Disposal

The shares were sold in the open market across two days. Vikas Jain sold a total of 6,29,678 shares, while Piyush Jain sold 5,36,142 shares. The aggregate disposal of 11,65,820 shares represents 3.91% of the total share capital and 3.57% of the total diluted share capital of the company.

Revised Shareholding Pattern

Prior to the sale, the promoters held 2,05,38,783 shares carrying voting rights, which accounted for 68.85% of the total paid-up capital. Following the disposal, the holding of shares carrying voting rights stands at 1,93,72,963. The promoters continue to hold 22,69,288 warrants, which were allotted on February 21, 2025.

The equity share capital of South West Pinnacle Exploration Limited remains unchanged at Rs. 29,83,00,110, comprising 2,98,30,011 equity shares of Rs. 10 each. The total diluted share capital, including the outstanding warrants, is Rs. 32,65,14,220, consisting of 3,26,51,422 equity shares of Rs. 10 each.

South West Pinnacle Exploration Limited has been empanelled by Oil India Limited to provide 2D/3D Seismic Data Acquisition Services across the latter's onshore acreages in India. This three-year empanelment, effective from June 04, 2026, enables the company to participate in bidding opportunities and tenders issued by Oil India Limited for seismic data acquisition services during the validity period.

The development underscores the company's technical expertise and operational capabilities in geophysical and seismic survey services. By securing this vendor status, South West Pinnacle Exploration Limited gains access to procurement opportunities from a major public sector oil exploration firm.

Empanelment Details

The key parameters of the empanelment are outlined below:

Seismic data acquisition is a critical component of upstream oil and gas exploration, used to map subsurface geological structures and identify potential hydrocarbon reserves. The company believes this empanelment will strengthen its position in the exploration services sector and enhance opportunities for participation in upcoming projects.