Scoobee Day Garments (India) Limited has reported a significant change in its promoter group shareholding structure, with the total promoter stake rising to 79.77% from 74.99%. This shift comes as a result of a series of share acquisitions and transfers within the promoter group.

Key Changes in Shareholding

Notable Developments

Anna Aluminium Company's Increased Stake

The most significant change came from Anna Aluminium Company Pvt. Ltd, which increased its shareholding by 6.21 percentage points to 44.26%.

New Promoter Group Member

Kitex Limited has been categorized as a new member of the promoter group, acquiring a 6.04% stake in the company.

Reduced Stakes

Both Boby M Jacob and Minni Boby Jacob saw reductions in their shareholdings, with their stakes decreasing by 4.70 and 2.77 percentage points, respectively.

Regulatory Compliance

The increase in promoter group shareholding has pushed the public shareholding below the mandatory 25% threshold set by the Securities and Exchange Board of India (SEBI). In response to this, Scoobee Day Garments has acknowledged the situation and confirmed its commitment to comply with regulatory requirements.

Compliance Timeline

The company has stated that it will adhere to Rule 19A(2) of the Securities Contract (Regulations) Rules, 1957. This rule mandates that when public shareholding falls below 25%, the company must restore it to the minimum required level within a maximum period of twelve months.

Implications for Investors

This restructuring of shareholding within the promoter group may signal a shift in the company's strategic direction. Investors should keep a close watch on any subsequent announcements or changes in the company's operations that might follow this significant alteration in ownership structure.

As the company works towards restoring the minimum public shareholding, there may be opportunities for public investors in the coming months. However, potential investors should conduct thorough research and consider seeking professional advice before making investment decisions based on these developments.

The market will be keenly observing how Scoobee Day Garments manages this transition and complies with regulatory requirements, which could impact investor sentiment and stock performance in the near term.

Scoobee Day Garments (India) Limited has reported significant changes in its promoter and promoter group shareholding following a rights issue allotment. The company's disclosure, made in compliance with SEBI regulations, reveals a substantial increase in the promoter group's total shareholding from 74.99% to 79.77%.

Key Shareholding Changes

The rights issue has resulted in notable shifts in the ownership structure of Scoobee Day Garments. Here's a breakdown of the changes:

Notable Developments

• Anna Aluminium Company Private Limited: Emerged as the largest shareholder with a significant increase in stake.
• Kitex Limited: Newly categorized as a promoter group member, acquiring a 6.04% shareholding.
• Individual Promoters: Both Boby M Jacob and Minni Boby Jacob saw a decrease in their percentage holdings, although their actual number of shares remained unchanged.

Compliance with Regulations

Scoobee Day Garments has affirmed its commitment to adhere to the minimum public shareholding requirements as mandated by securities regulations. The company stated:

"We confirm that in accordance with Rule 19A(2) of the Securities Contract (Regulations) Rules, 1957 ("SCRR"), the Promoters & Promoters Group shall comply with provisions to maintain the Minimum Public Shareholding in accordance with the SEBI (LODR) Regulations."

This commitment ensures that the company will take necessary steps to bring the public shareholding to at least 25% within a maximum period of twelve months from the date of the fall below this threshold.

The changes in shareholding structure reflect the company's recent corporate action and its efforts to comply with regulatory requirements while potentially strengthening its promoter group's position.