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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Price reactionminutes from the announcement price · days from the prior close

+0.9%Reaction day

₹107.90

prior close

₹107.90

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-2.0%+2.9% vs market

Investment Company peers, median of 62sector-1.7%+2.6% vs sector

On the reaction day the stock moved 2.9 pts more than Nifty Microcap 250 and 2.6 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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Sessions after the filingfrom the prior close

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Reaction day

+0.9-2.0+2.9-1.7+2.6

Next day

+1.9-0.1+2.0-1.0+2.8

+4.5-1.6+6.1-1.5+6.1

+1.9-2.7+4.6-3.0+5.0

+2.2+0.3+1.9-0.9+3.1

-0.3+2.0-2.3+0.1-0.3

+1.8+3.7-1.9+1.3+0.5

15d

+6.1+5.2+0.9-0.0+6.1

+1.9+3.3-1.5-0.5+2.3

+11.2+9.0+2.2+2.2+8.9

+7.6+11.8-4.2+0.1+7.5

UpDownMarket · Nifty Microcap 250Sector · Investment Company peers, median of 62Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Varigate Advisory Services (P) Ltd, along with Person Acting in Concert Sanjay Otawat, has disclosed a sale of equity shares in Arman Holdings Limited under Regulation 29(2) of the SEBI Takeover Regulations. A total of 4,000 shares (0.08% of share capital) were sold through the open market on June 3, 2026, by Varigate Advisory Services only. Sanjay Otawat's holding remained unchanged. The seller's combined holding dropped marginally from 8.06% (420,000 shares) to 7.98% (416,000 shares). The seller explicitly clarified that they do not belong to the promoter or promoter group.

Likely market impact

This is a very minor, non-promoter open-market sale representing just 0.08% of equity capital, so it is unlikely to have any meaningful impact on the stock price or shareholder value. Retail investors should note this is a routine SAST compliance disclosure rather than any significant strategic stake change.