Nimbus India Limited, a key promoter entity of Industrial Investment Trust Limited (IITL), has augmented its shareholding in IITL through an open market purchase of 40,749 equity shares. The transaction, executed on June 11, 2025, has increased Nimbus India's direct stake in IITL to 31,15,588 shares. This revised holding corresponds to 15.88% of IITL's total share capital and 13.81% of its total diluted share capital, as per a regulatory filing made with the stock exchanges.
The acquisition underscores the promoter group's continued interest in Industrial Investment Trust Limited. The disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares & Takeover) Regulations, 2011, which mandates reporting of changes in shareholding by significant shareholders and promoters.
| Shareholder Category | Entity / Group | Shares Held Before Acquisition (June 11, 2025) | % of Total Capital (Before) | % of Diluted Capital (Before) | Shares Acquired on June 11, 2025 | Shares Held After Acquisition (June 11, 2025) | % of Total Capital (After) | % of Diluted Capital (After) |
|---|---|---|---|---|---|---|---|---|
| Acquirer | Nimbus India Limited | 30,74,839 | 15.67% | 13.63% | 40,749 | 31,15,588 | 15.88% | 13.81% |
| Total (Acquirer + PACs*) | Promoter & Promoter Group | 1,02,12,799 | 52.08% | 45.29% | 40,749 | 1,02,53,548 | 52.29% | 45.48% |
| *Persons Acting in Concert (PACs) with Nimbus India Limited include N N Financial Services Private Limited, Bipin Agarwal, and Swarn Mohinder Singh. The shares acquired are solely by Nimbus India Limited. | ||||||||
Detailed Analysis of the Transaction
The recent acquisition by Nimbus India Limited involves a direct purchase of 40,749 equity shares of Industrial Investment Trust Limited from the open market. This transaction has led to a 0.21% increase in Nimbus India's holding based on IITL's total share capital, and a 0.18% increase based on its diluted share capital.
Industrial Investment Trust Limited is listed on both the Bombay Stock Exchange (BSE Code: 501295) and the National Stock Exchange of India (NSE Scrip Symbol: IITL). According to the disclosure, IITL's equity share capital before and after this specific acquisition stands at 1,96,08,780 equity shares of Rs. 10 each, aggregating to Rs. 19,60,87,800. The total diluted share/voting capital of IITL after the said acquisition is reported as 2,25,47,550 equity shares of Rs. 10 each, amounting to Rs. 22,54,75,500. The term 'total share capital' refers to the latest figures filed by the company with the stock exchanges, while 'diluted share capital' accounts for the potential conversion of all outstanding convertible securities or warrants into equity shares.
Impact on Promoter Group Shareholding
Nimbus India Limited is part of the promoter group of IITL. The Persons Acting in Concert (PACs) with Nimbus India Limited are N N Financial Services Private Limited, Mr. Bipin Agarwal, and Mr. Swarn Mohinder Singh. While this specific transaction involved an acquisition only by Nimbus India Limited, it contributes to the overall promoter group's holding.
Before this acquisition, the combined holding of Nimbus India Limited and its PACs in IITL was 1,02,12,799 shares, which constituted 52.08% of the total share capital and 45.29% of the diluted share capital. The individual holdings within the promoter group prior to this transaction were:
- Nimbus India Limited: 30,74,839 shares (15.67% of total capital)
- N N Financial Services Private Limited: 70,87,960 shares (36.15% of total capital)
- Bipin Agarwal: 25,000 shares (0.13% of total capital)
- Swarn Mohinder Singh: 25,000 shares (0.13% of total capital)
Following the acquisition of 40,749 shares by Nimbus India Limited, its individual holding increased to 31,15,588 shares (15.88% of total capital). Consequently, the total holding of the promoter group (Nimbus India Limited and PACs) in IITL has risen to 1,02,53,548 shares. This represents 52.29% of IITL's total share capital and 45.48% of its diluted share capital, reflecting a marginal increase in the promoter group's already substantial stake.
Significance of Promoter Buying
Purchases of company stock by its own promoters are generally perceived by the market as a positive indicator. Such actions can suggest that those with intimate knowledge of the company's operations and future prospects (the promoters) believe the stock is undervalued or that the company is poised for growth. An increase in promoter stake often signals strong confidence in the company's fundamentals and long-term strategy.
This can lead to increased investor confidence, potentially influencing the share price positively. A higher promoter holding also aligns the interests of the management and promoters more closely with those of other shareholders, as their financial outcomes become more intertwined with the company's performance. However, the actual market reaction to such an acquisition depends on various factors, including the size of the transaction, the prevailing market conditions, and the specific circumstances of the company.
Regulatory Compliance
The disclosure of this acquisition by Nimbus India Limited was made in compliance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. These regulations are designed to ensure transparency in the trading of shares by significant shareholders and promoters, particularly when such transactions can lead to a change in control or a substantial change in shareholding patterns.
Regulation 29(2) specifically requires acquirers who, along with PACs, hold 25% or more of the voting rights in a target company to disclose any acquisition or disposal of shares, irrespective of the quantum, within two working days of the transaction. Since the promoter group, including Nimbus India, already holds more than 25% in IITL, this disclosure was mandatory. The timely filing by Nimbus India Limited, with Sarakshi Srivastava as the signatory Company Secretary, ensures adherence to these regulatory requirements, providing all stakeholders with updated information on the promoter group's shareholding.
The information was communicated to The General Manager, Department of Corporate Services at BSE Limited; The General Manager, Department of Listing at National Stock Exchange of India Limited; and The Compliance Officer of Industrial Investment Trust Limited.
