Riba Textiles Ltd files Reg 29(2) disclosure of share acquisition by Babita Garg

What Riba Textiles Ltd announced

On 15 June 2026, Riba Textiles Ltd (BSE: 531952) submitted a disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The filing relates to an acquisition of shares by Babita Garg, whose identity and relationship to the company are not detailed in the announcement.

The Exchange has received the disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 for Babita Garg.

The company has not provided further quantitative details such as the number of shares acquired, the percentage of total equity, or the transaction value.

Details of the Reg 29(2) filing

Regulation 29(2) requires any person who acquires shares that cross a prescribed threshold (typically 5 % of the paid‑up capital) to disclose the acquisition to the stock exchange within two working days. The purpose is to ensure transparency in the market and to alert existing shareholders of a potential change in control.

In this case, the filing confirms that Babita Garg’s shareholding has reached the level that triggers the disclosure requirement. The filing does not elaborate on:

• The exact number of shares or percentage held.
• Whether the acquisition was through open‑market purchases, off‑market deals, or a combination.
• Any intention to increase the stake further or to make a formal takeover bid.

Key facts at a glance

Why this matters for investors

The Reg 29(2) disclosure signals that a new shareholder has crossed a material ownership threshold. For existing investors, this raises a few practical considerations:

• Potential influence: A holder above the threshold can vote on ordinary resolutions and may influence board composition.
• Future actions: While the filing does not indicate any immediate takeover intent, the regulator may require further disclosures if the stake is increased or a formal offer is made.
• Transparency: The filing satisfies SEBI’s mandate for timely market disclosure, helping maintain confidence in the share‑holding pattern.

Investors should monitor subsequent filings, such as share‑holding pattern updates or any formal offer documents, to gauge whether Babita Garg’s stake will affect corporate strategy.

Conclusion

Riba Textiles Ltd has complied with SEBI’s Reg 29(2) requirement by reporting that Babita Garg now holds a substantial shareholding. The filing does not reveal the size or value of the stake, nor does it indicate any immediate corporate actions. Stakeholders should await further disclosures for a clearer picture of the shareholder’s intentions and any impact on the company’s governance.