Acquisitions1 Oct 2025, 10:50 am
Kotak Mahindra Investments Acquires Major Stake in Steel Exchange India Ltd Through Non-Disposal Undertaking
AI Summary
Kotak Mahindra Investments, along with VISTRA ITCL (INDIA) LIMITED and Oxyzo Financial Services Limited, has acquired a significant stake in Steel Exchange India Limited. The acquisition was made through a non-disposal undertaking on the shareholding of the Promoter and Promoter Group in the Target Company. The total voting rights acquired amount to 50.80%, and the total encumbrance stands at 49.67%. The acquisition was made in accordance with Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Key Highlights
- Kotak Mahindra Investments, VISTRA ITCL (INDIA) LIMITED, and Oxyzo Financial Services Limited acquire significant stake in Steel Exchange India Limited
- Acquisition made through non-disposal undertaking on the shareholding of the Promoter and Promoter Group in the Target Company
- Total voting rights acquired amount to 50.80%
- Total encumbrance stands at 49.67%
- Acquisition in accordance with Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011