The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Varigate Advisory Services (P) Ltd

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Nifty Microcap 250market · in no size index; the smallest one is used+0.4%+0.7% vs market

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On the reaction day the stock moved 0.7 pts more than Nifty Microcap 250 and 0.7 pts more than its Investment Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Varigate Advisory Services (P) Ltd, along with Sanjay Otawat (Person Acting in Concert), has disclosed a disposal of equity shares of Arman Holdings Ltd under SEBI SAST Regulations. Only 400 shares were sold on December 9, 2025, through open market transactions, representing a negligible 0.01% of the company's share capital. Before the sale, the combined holding of Varigate Advisory (248,000 shares) and Sanjay Otawat (247,500 shares) stood at 9.53%; after the sale, it marginally declined to 9.50%. The filing explicitly states that the seller does NOT belong to the promoter or promoter group of the company. The equity share capital remained unchanged at ₹5.21 crore (52,10,500 shares of ₹10 each).

Likely market impact

This is a routine, extremely minor disposal and is unlikely to have any meaningful impact on the stock price or shareholder wealth. The sellers are non-promoters and the transaction size is too small to alter the company's ownership structure or governance.