InRe Fund II acquired a 2.58% Nirlon stake through an open-market purchase of 23,25,000 equity shares on October 1, 2026, according to a disclosure published on BSE on October 5. Following the purchase, the fund and its person acting in concert, BSREP IV FPI Two Holdings (DIFC) Ltd, together held 15.06% of Nirlon Limited.

The disclosure was submitted by Monocap Investment Advisors Private Limited, acting as manager of InRe Fund II, a scheme of InRe Investments Trust. It identifies InRe Fund II as the acquirer and states that the acquirer does not belong to Nirlon's promoter or promoter group.

The October 1 purchase triggered the disclosure obligation under Regulation 29(2), read with Regulation 29(3), of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Combined holding includes an earlier August purchase

The filing reports aggregate acquisitions of 26,25,000 shares, or 2.91%, across the fund and its person acting in concert. That total includes a separate purchase made in August:

  • InRe Fund II acquired 23,25,000 shares on October 1, taking its holding from nil to 2.58%.
  • BSREP IV FPI Two Holdings acquired 3,00,000 shares, or approximately 0.33%, on August 26, 2026. Its resulting holding stood at 1,12,45,558 shares, or 12.48%.

The filing clarifies that the August purchase did not trigger a disclosure obligation under the SEBI takeover regulations. The combined post-acquisition holding was 1,35,70,558 shares, or 15.06%.

The pre-acquisition comparison uses the concert party's holding of 1,09,45,558 shares, or 12.15%, as reported in its previous disclosure dated April 17, 2026. Consequently, the reported aggregate increase covers purchases on two different dates.

Share capital remains unchanged

Nirlon's equity share capital remained Rs 90,11,80,400 before and after the acquisition, comprising 9,01,18,040 equity shares with a face value of Rs 10 each. The disclosure uses the company's June 30, 2026 shareholding pattern as the basis for these capital figures.

The percentages are rounded to two decimal places. Nirlon's shares are listed on BSE under scrip code 500307 and on the National Stock Exchange under the symbol NIRLON. The supplied disclosure does not state the purchase price or transaction consideration.