Tilaknagar Industries has received a substantial acquisition disclosure from Arpit Khandelwal and Axana Estates LLP under Regulation 29 of SEBI's takeover regulations. The disclosure reveals a significant stake acquisition through warrant conversion, marking an important development for the company's shareholding pattern.

Acquisition Details

The acquisition involved conversion of warrants to equity shares, with both parties increasing their holdings from zero to substantial positions in the company.

Pre and Post Acquisition Holdings

Before the acquisition, neither Arpit Khandelwal nor Axana Estates LLP held any shares in Tilaknagar Industries. The warrant conversion completed on March 05, 2026, resulted in their combined stake of 5.29% of the company's total voting capital.

Impact on Share Capital

The warrant conversion significantly impacted Tilaknagar Industries' share capital structure. The company's equity share capital increased from Rs. 2,08,19,37,500 to Rs. 2,45,90,87,500, representing an addition of 3,77,15,000 new shares at face value of Rs. 10 each.

Regulatory Compliance

The disclosure was filed under Regulation 29(1) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011. Both acquirers confirmed they do not belong to the promoter or promoter group of Tilaknagar Industries. The company's shares are listed on both NSE and BSE exchanges.

The acquisition represents a notable change in the company's shareholding pattern, with the new stakeholders now holding a combined 5.29% stake through the conversion of warrants to equity shares.

Tilaknagar Industries promoter Shivani Amit Dahanukar has pledged an additional 6,50,000 equity shares to Avendus Finance Private Limited, as disclosed in a regulatory filing dated February 11, 2026. The pledge was created on February 02, 2026, for loan purposes under the provisions of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Pledge Details and Impact

The creation of this pledge significantly increases Dahanukar's total encumbered shareholding in the company. Her post-event holding of pledged shares now stands at 2,91,73,858 shares, representing 11.80% of the total share capital, compared to the previously encumbered 2,85,23,858 shares (11.54%).

Promoter Holdings Overview

Shivani Amit Dahanukar currently holds 3,29,76,043 shares in Tilaknagar Industries, representing 13.34% of the total share capital. The disclosure also provides details of other promoter and promoter group holdings as of the reporting date.

Regulatory Compliance

The disclosure was made in compliance with Regulation 31(1) and 31(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Tilaknagar Industries' shares are listed on BSE Limited (Scrip Code: 507205) and National Stock Exchange of India Limited (Symbol: TI). The company maintains its registered office at 3rd Floor, Industrial Assurance Building, Churchgate, Mumbai-400020.