Promoter Group Increases Stake in Neo Infracon Ltd through Share Acquisition
A promoter group member has acquired additional shares in Neo Infracon Limited, slightly enhancing their stake in the company. The transaction details relate to Mr. Bhavik N. Mehta, who holds a significant pre-existing interest in the target company.The acquisition involves Mr. Bhavik N. Mehta, identified as belonging to the Promoter Group of the company. He acquired 117 shares carrying voting rights in Neo Infracon Limited.
Before this acquisition, Mr. Mehta’s holding amounted to 3,27,649 shares, which constituted 6.17% of the total diluted share/voting capital. Post-acquisition, his holdings stand at 3,27,766 shares.
The transaction details and shareholder data are summarized below:
| Detail | Before Acquisition Holding | Transaction Details | After Acquisition Holding |
|---|---|---|---|
| Acquirer | Mr. Bhavik N. Mehta (Promoter Group) | Purchase of 117 shares carrying voting rights | Mr. Bhavik N. Mehta (Promoter Group) |
| Shares Carrying Voting Rights (a) | 3,27,649 | Acquired: 117 | 3,27,766 |
| Total Shares in TC | 53,06,800 equity shares | N/A | 53,06,800 equity shares |
| Holding Percentage | 6.17% | Acquisition resulted in a holding of 0.002% | 6.17% |
Mr. Bhavik N. Mehta’s pre-acquisition stake included no shares in nature of encumbrances and no voting rights other than those represented by equity shares. Following the acquisition, his total holding remains aligned with the company's overall share capital structure, which currently stands at 53,06,800 equity shares.
Stock Price Movement
For Neo Infracon Ltd, the shares settled at ₹43.29 in the post-market session on Friday, rising 3.37%. The stock experienced volatility throughout the day, trading between a low of ₹39.20 and an intraday high of ₹43.80.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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