Suraj Estate Developers Limited has disclosed the acquisition of 18,500 equity shares by promoter group member Margarette Shwetha Thomas through regulatory filings submitted to stock exchanges. The transaction, completed over two days in March 2026, was disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details and Regulatory Compliance

The acquisition involved 18,500 equity shares purchased through open market operations with a total transaction value of ₹39.01 lakh. Margarette Shwetha Thomas submitted the disclosure on March 06, 2026, following the mandatory substantial acquisition disclosure requirements.

Shareholding Pattern Changes

Margarette Shwetha Thomas, who serves as a promoter group member, increased her individual shareholding through this strategic acquisition. The transaction was executed in two tranches over consecutive trading days.

Updated Promoter Group Holdings

Following the acquisition, the promoter group's collective shareholding in the company increased, demonstrating continued confidence in the real estate developer's prospects. The promoter group includes Rajan Meenathakonil Thomas, Rahul Rajan Jesu Thomas, Sujatha Rajan Thomas, Elizabeth Lavanya Thomas, and Accord Estates Private Limited.

Company Information and Compliance

The disclosure was made pursuant to Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction documentation includes detailed shareholding patterns and was submitted to both NSE and BSE. The company maintains an equity share capital of ₹23,88,66,940 with 13,30,000 warrants pending conversion.

Suraj Estate Developers Limited has paid a regulatory penalty of Rs 9,92,000 to BSE Limited following non-compliance with key SEBI listing regulations. The Mumbai-based real estate developer made the payment on February 27, 2026, after its waiver applications were rejected by the stock exchange.

Regulatory Violations and Penalty Details

The penalty was imposed for violations of two critical SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received notices from both NSE and BSE dated August 29, 2025, and November 28, 2025, regarding these compliance failures.

Waiver Applications and Rejection

Suraj Estate Developers had submitted waiver applications to BSE on September 10, 2025, and December 2, 2025, providing detailed explanations for the compliance delays. Copies of these applications were also forwarded to NSE for their records. However, BSE rejected the waiver requests through an order dated February 18, 2026, directing the company to pay the levied fine.

Regulatory Communication Timeline

The regulatory process involved multiple communications between the company and stock exchanges:

Impact Assessment

According to the company's disclosure, the penalty will have no material impact on its financial, operational, or other business activities, except for the monetary penalty amount paid. This assessment suggests that while the compliance failure resulted in a financial penalty, it does not affect the company's core business operations or financial health.

Compliance Framework

The violations relate to fundamental corporate governance requirements under SEBI regulations. Regulation 17(1) mandates specific board composition requirements, including the appointment of women directors within prescribed timelines. Regulation 21(2) requires companies to establish Risk Management Committees as part of their governance structure.

The company has made the required disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015, ensuring transparency with stakeholders regarding the regulatory action and its resolution.

Source: None/Company/INE843S01025/6b82d7c2-ffe4-464b-8c65-bfe1e94b68bd.pdf