Chennai, India – January 27, 2025: High Energy Batteries (India) Limited has disclosed an increase in its stake in Seshasayee Paper and Boards Limited through an open market acquisition. The company acquired 11,000 equity shares at a price of ₹293.87 per share, taking its total holding in Seshasayee Paper to 86,645 shares, representing 0.137% of the total share capital.
Transaction Details:
- Acquiring Entity: High Energy Batteries (India) Limited
- Acquired Shares: 11,000 equity shares
- Acquisition Mode: Open Market Purchase (executed on NSE)
- Acquisition Price: ₹293.87 per share
- Pre-Acquisition Holding: 75,645 shares (0.120% of total share capital)
- Post-Acquisition Holding: 86,645 shares (0.137% of total share capital).
Market & Strategic Implications:
Though the acquisition represents a small fraction of Seshasayee Paper’s overall shareholding, it indicates a strategic intent by High Energy Batteries to strengthen its investment portfolio. While the purchase does not significantly alter the company’s ownership structure, it suggests a potential long-term interest in Seshasayee Paper’s growth trajectory.Regulatory Compliance:
The disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and SEBI (Prohibition of Insider Trading) Regulations, 2015, ensuring transparent reporting of substantial shareholding changes.Company Background:
- High Energy Batteries (India) Limited specializes in high-performance battery solutions and focuses on aerospace, defense, and industrial applications.
- Seshasayee Paper and Boards Limited is a leading paper manufacturing company that caters to diverse industrial and commercial segments.