Riddhi Steel and Tube Ltd files SEBI Reg 29(2) disclosure for Rajeshkumar Mittal
The company disclosed a substantial acquisition of its shares by Rajeshkumar Ramkumar Mittal, as required under SEBI's takeover regulations.
What Riddhi Steel and Tube Ltd announced
On 25 June 2026, Riddhi Steel and Tube Ltd (BSE: 540082) submitted a disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The filing reports that Rajeshkumar Ramkumar Mittal has acquired a stake in the company that meets the definition of a "substantial acquisition" under the regulations.
Details of the Reg 29(2) disclosure
The submission, made through the BSE portal, does not provide the exact number of shares, the percentage of voting rights acquired, or the monetary value of the transaction. It merely identifies the acquirer – Rajeshkumar Ramkumar Mittal – and confirms that the acquisition satisfies the criteria for a mandatory disclosure under SEBI’s takeover code. No further information on the purpose of the acquisition, any related agreements, or the source of funds was included in the filing.
Key facts at a glance
| Detail | Value |
|---|---|
| Company | Riddhi Steel and Tube Ltd |
| BSE ticker | 540082 |
| Filing date | 25 June 2026 |
| Regulation invoked | SEBI Reg. 29(2) – SAST |
| Acquirer disclosed | Rajeshkumar Ramkumar Mittal |
| Share count / % disclosed | Not disclosed |
| Source | BSE filing (PDF) |
Why this matters for investors
A Reg 29(2) filing signals that a party has crossed a statutory threshold – typically 1% of the voting share capital – requiring public disclosure. While the exact size of Mittal’s holding is not disclosed, the fact that a substantial acquisition has occurred may affect the company’s shareholding pattern and could lead to further regulatory filings, such as a mandatory open offer if the acquirer’s stake exceeds 25%.
Investors should monitor subsequent disclosures for updates on the size of the holding, any changes in control, or potential offers that may arise under the SEBI takeover framework.
Conclusion
Riddhi Steel and Tube Ltd has complied with SEBI’s Reg 29(2) by reporting that Rajeshkumar Ramkumar Mittal holds a substantial shareholding. The filing does not reveal the exact stake, and further disclosures may be required if the acquisition grows. Shareholders should watch for any follow‑up filings that could clarify the extent of Mittal’s interest and any related corporate actions.
Frequently asked questions
Source filing: view original