Varini Patel, along with her Persons Acting in Concert (PACs), has filed a mandatory disclosure regarding the sale of 9,00,00,000 Equity Shares in AvenuesAl Limited. This transaction represents a reduction of 2.57% of the total share capital. The off-market sale occurred between March 25, 2026, and March 27, 2026. Following the disposal, the collective holding of Ms. Patel and her PACs in AvenuesAl Limited has reduced to 12.14% of the total voting capital.
Mandatory Disclosure of Share Disposal
This document serves as a formal disclosure by Varini Patel and her Persons Acting in Concert (PACs) regarding a significant reduction in their shareholding in the target company, AvenuesAl Limited. The transaction was executed pursuant to the requirements concerning substantial acquisitions and takeovers.
Transaction Details and Holdings
The disposal involved the sale of 9,00,00,000 equity shares, which equates to 2.57% of the total share capital and 2.54% of the total diluted share capital of AvenuesAl Limited. The mode of transfer was recorded as Off Market, with the transactions spanning from March 25, 2026, to March 27, 2026.
Holding Before Sale
- Total Voting Rights Held (Seller & PACs): 51,45,80,591 shares.
- Percentage of Total Voting Capital: 14.72% (Share Capital) and 14.54% (Diluted Capital).
- Equity Share Capital of TC Before Sale: 3,49,64,20,770 Equity Shares.
Holding After Sale
Following the aggregate sale of 9,00,00,000 shares:
- Total Voting Rights Held (Seller & PACs): 42,45,80,591 shares.
- Percentage of Total Voting Capital: 12.14% (Share Capital) and 12.00% (Diluted Capital).
- Equity Share Capital of TC After Sale: Remains 3,49,64,20,770 Equity Shares.
- Total Diluted Share Capital of TC After Sale: 3,53,95,68,664 Equity Shares.
Details of Seller and Concert Parties
The Annexure details the specific contributions to the disposal:
Seller (Varini Patel): Sold 8,00,00,000 shares, reducing her holding from 2.36% to 0.07%.
Persons Acting in Concert (PACs):
- Vishwas Patel: Holding remained unchanged at 10.96% (10.83% diluted).
- Vivek Patel: Disposed of 1,00,00,000 shares, resulting in a reduction from 1.40% to 1.11% (1.10% diluted).
The filing was signed by Varini Patel in Mumbai on March 27, 2026.
Source: BSE
