Jayantibhai Somabhai Patel Acquires Shares in Promact Plastics Limited through Open Market
Jayantibhai Somabhai Patel has acquired equity shares of Promact Plastics Limited, increasing his holding in the company. The acquisition was executed via the open market on June 1, 2026.The purchase involved acquiring 5,330 Equity Shares of Promact Plastics Limited, each carrying a face value of Rs. 10/-.
The acquisition expanded the collective stake held by Jayantibhai Somabhai Patel and associated Persons Acting in Concert (PAC). Prior to this transaction, the combined holding of the acquirer and PAC stood at 26,24,002 shares, representing 40.30% of the company's total voting capital.
After the open market acquisition, the total holding increased to 26,29,332 shares, which constitutes 40.38% of the total diluted share/voting capital of Promact Plastics Limited.
The holdings of Jayantibhai Somabhai Patel and the PAC prior to the transaction are detailed below:
| Stakeholder | Pre-Acquisition Holding (Shares) | Percentage (%) |
|---|---|---|
| Jayantibhai Somabhai Patel (Acquirer) | 4,61,792 | 7.10% |
| Associated PAC Members | Various | Varied percentage ranges including up to 7.40% |
Following the acquisition of 5,330 shares by the Acquirer, Jayantibhai Somabhai Patel's holding increased to 4,67,122 shares, representing 7.18%. The collective post-acquisition holding stands at 26,29,332 shares (40.38%).
The total equity share capital of Promact Plastics Limited before the acquisition was Rs. 6,51,18,000/-, which corresponds to 65,11,800 Equity Shares of Rs. 10/- each fully paid up. The total equity share capital and diluted voting capital remained at Rs. 6,51,18,000/- following the acquisition.
Stock Price Movement
Promact Plastics Ltd settled at ₹8.61 at the close of trade on Tuesday, ticking up 0.58%. The shares moved within a tight intraday range, trading between a low of ₹8.61 and a high of ₹8.95.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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