Disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011
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Abate As Industries Ltd has filed SAST Regulation 29(2) disclosures for an off-market share transaction executed on 23 March 2026. A promoter-group entity named ASYA acquired 70,92,291 equity shares, representing 4.50% of the company's share capital. The seller is Fazil Chemmankuzhiyil, a non-promoter shareholder, who disposed of the same 70,92,291 shares (4.50%). Post-transaction, the seller's holding reduced from 2,30,34,956 shares (14.62%) to 1,59,42,665 shares (10.12%), while the promoter-group acquirer's reported holding stands at 70,92,291 shares (4.50%). The company's total equity share capital is Rs. 157.60 crore (approximately 15.76 crore shares at Rs. 10 face value). The transaction was carried out off-market, indicating a private negotiated deal rather than an open-market purchase.
For shareholders, this signals a strengthening of the promoter group's stake in the company through a private block deal with an existing non-promoter shareholder. The seller dropping from 14.62% to 10.12% means public float has reduced, and promoter holding has increased by 4.50% – generally seen as a confidence signal, though it concentrates ownership further.