Veeram Barter Acquires 8.96% Stake in Palm Jewels Ltd through Open Market Purchase
Veeram Barter Private Limited has acquired a significant stake in Palm Jewels Limited through an open market purchase of equity shares. The acquisition was completed on May 28, 2026, establishing Veeram Barter as a substantial shareholder in the target company.According to the transaction details, Veeram Barter Private Limited and its associated Persons Acting in Concert (PAC) purchased 9,00,000 shares of Palm Jewels Limited. This purchase represents 8.96% of the total diluted share capital or voting rights of the company, measured both before and after the acquisition was completed.
Prior to this transaction, Veeram Barter Private Limited held Nil shares in Palm Jewels Limited. The open market acquisition led to a holding of 9,00,000 shares by the acquirer.
Key financial and shareholding details related to the acquisition are summarized below:
| Metric | Detail |
|---|---|
| Target Company | Palm Jewels Limited |
| Acquirer | Veeram Barter Private Limited (and PAC) |
| Date of Acquisition | May 28, 2026 |
| Shares Acquired | 9,00,000 |
| Acquisition Percentage | 8.96% |
The total equity share capital and voting capital details for Palm Jewels Limited were reported as follows:
| Metric | Before Acquisition | After Acquisition |
|---|---|---|
| Equity Shares (No.) | 1,00,40,960 | 1,00,40,960 |
| Share Capital | 1,00,409,600 | 1,00,409,600 |
| Total Diluted Share/Voting Capital | N/A | 1,00,40,960 shares |
Stock Price Movement
Palm Jewels Ltd is currently ticking down, trading at ₹16.00 as of 12:27, registering a decrease of 1.48%. The shares have experienced some volatility throughout the day, having moved between an intraday low of ₹16.00 and a high of ₹16.50.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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