Vishnubhai Patel Group Acquires 10.62% Stake in Jhaveri Credits

Vishnubhai Patel and associated promoter group entities have acquired a 10.62% equity stake in Jhaveri Credits and Capital Limited. This acquisition, totaling 1,178,605 shares, was executed through an allotment mechanism pursuant to a Scheme of Amalgamation between Jhaveri Credits and Capital Limited and U R Energy (India) Private Limited. The transaction was approved by the NCLT, Ahmedabad Bench. This move falls under the exemption provided by Regulation 10(1)(d)(ii) of the SEBI (SAST) Regulations, 2011, thus not requiring an open offer. The acquisition has resulted in a shift in shareholding percentages for various entities within the promoter group.