Skybridge Interactive LLP raises BABA Arts stake to 74.67%

Skybridge Interactive LLP raised its BABA Arts holding to 74.67% on 03 November 2026 by acquiring 65 lakh voting shares, or 12.38%, off market under a February share purchase agreement with promoter sellers. The transfer increased its share count from 3.27 crore to 3.92 crore while BABA Arts’ disclosed 5.25 crore-share voting capital remained unchanged.

What did Skybridge acquire in BABA Arts?

Skybridge acquired 65 lakh BABA Arts shares carrying voting rights, equal to 12.38% of the company’s total share and voting capital. The disclosure records the transaction under Regulation 29(2) of the Securities and Exchange Board of India (SEBI) Substantial Acquisition of Shares and Takeovers Regulations, 2011, and identifies BSE Limited as BABA Arts’ listed exchange.

Before the transfer, Skybridge’s disclosed holding was 3.27 crore voting shares, representing 62.28%. After adding 65 lakh shares, its holding became 3.92 crore shares, or 74.67%. The 12.39-percentage-point increase implied by the rounded reported percentages corresponds to the disclosed 12.38% acquired stake.

The filing does not give a per-share purchase price, total consideration, or a value for the 65 lakh-share transfer. It therefore establishes the size and voting proportion of the acquisition, but does not provide a financial measure of the transaction. The reported figures are identical for total share capital and total diluted share and voting capital, at 12.38% for the purchase and 74.67% afterward.

How was the BABA Arts stake transferred?

Skybridge acquired the shares off market pursuant to a share purchase agreement dated 25 February 2026 between promoter sellers and Skybridge. The filing says the balance shares under that agreement were transferred on 03 November 2026, making that date the reported date of acquisition rather than the agreement date.

An off-market transfer is the mode specified in the disclosure, alongside the February agreement and the applicable SEBI takeover regulations. The document does not identify the individual promoter sellers, state how many shares had transferred before 03 November 2026, or set out the contractual terms governing the balance-share transfer. Its stated scope is the subsequent 65 lakh shares and the resulting 74.67% holding.

The disclosure itself is dated 04 November 2026 and marked as issued from Mumbai. That places the filing one day after the stated 03 November 2026 transfer date. Skybridge’s letter asks BSE and BABA Arts to take the Regulation 29(2) disclosure on record, while the accompanying format presents the pre-transfer, acquired and post-transfer voting-share positions.

What does Skybridge's 74.67% BABA Arts holding represent?

Skybridge’s 74.67% holding represents 3.92 crore of BABA Arts’ 5.25 crore equity shares, each with a face value of Rs 1. The filing reports the same 74.67% proportion against both total share and voting capital and total diluted share and voting capital, with total diluted capital shown as 5.25 crore equity shares.

The acquisition moved Skybridge from 62.28% to 74.67%, meaning its disclosed voting-share position increased by 65 lakh shares without a change in BABA Arts’ reported 5.25 crore equity-share base. Based on the disclosed totals, 1.33 crore shares, or 25.33%, were outside Skybridge’s reported post-transfer holding. This is an arithmetic comparison of the filing’s share-count and percentage figures, not a statement about any other holder’s identity.

The form is structured to report the acquirer’s holding together with persons acting in concert, if any. In this disclosure, the acquirer field names Skybridge, and the reported aggregate before and after holdings are 62.28% and 74.67%, respectively. The filing also says Skybridge does not belong to BABA Arts’ promoter or promoter group.

Did BABA Arts issue new shares or securities in this transaction?

No new BABA Arts shares or convertible instruments are reported in the transaction; the filing describes an off-market transfer of 65 lakh existing voting shares. BABA Arts’ equity and total voting capital is shown as 5.25 crore equity shares of Rs 1 each before the acquisition, and the total diluted share and voting capital afterward is also shown as 5.25 crore equity shares.

The disclosure records no voting rights acquired otherwise than through shares, no warrants, and no convertible securities or other instruments that would entitle Skybridge to receive additional voting shares. It also records no shares in the nature of encumbrance, including pledges, liens or non-disposal undertakings, in the before-acquisition, acquisition and post-acquisition fields.

This distinction means the 12.38% addition is presented entirely as shares carrying voting rights, rather than as a future entitlement to shares. The increase from 3.27 crore to 3.92 crore shares therefore came from the stated transfer on 03 November 2026, not from an allotment, rights issue, preferential issue or conversion disclosed in this filing.

Conclusion

Skybridge’s 65 lakh-share off-market purchase increased its reported BABA Arts holding from 62.28% to 74.67%, while the company’s disclosed share base remained 5.25 crore shares. The filing links the 03 November 2026 transfer to a 25 February 2026 agreement with promoter sellers and records no warrants, convertible securities, other voting rights or encumbrances.

The disclosure states that the balance shares under the February 2026 agreement were transferred on 03 November 2026, but it gives no future acquisition date, ownership target or scheduled transaction. It also does not disclose the purchase price, total consideration or seller identities, leaving those transaction details unresolved in the reported filing.