Standard Greases Acquires 1.69% Stake in Veedol Corp via Scheme

Standard Greases & Specialities Pvt Ltd (SGSPL) has disclosed its acquisition of 2,95,000 equity shares, representing 1.69% of the total paid-up equity share capital, in Veedol Corporation Limited. This acquisition is part of a composite scheme of arrangement involving the amalgamation of Janus Consolidated Finance Private Limited with SGSPL. SGSPL is a promoter of Veedol Corporation, and Janus is part of the promoter group. The transaction is exempted from making an open offer under Regulation 10(1)(a)(ii) of SEBI (SAST) Regulations. Following the acquisition, SGSPL's shareholding in Veedol Corporation increases from 38.59% to 40.28%. The disclosure was made under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.