Avalon Technologies Limited has informed the Exchange regarding 'Disclosures Under Reg. 29(2) Of SEBI (SAST) Regulations, 2011'.
AVALON · price
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Awaiting price reaction for this filing.
Avalon Technologies informed the exchanges that promoter and non-executive director Bhaskar Srinivasan, along with BBS Family Trust and KBS Family Trust (where he is a trustee), sold 37,96,000 equity shares of the company on June 24, 2025, through the block deal mechanism on the stock exchanges. The sale represents 5.71% of the company's total share capital, comprising 32.90 lakh shares from Bhaskar Srinivasan personally (4.95%) and about 2.53 lakh shares each from both family trusts (0.38% each). Post-sale, the combined promoter group holding has reduced from 21.22% (1.41 crore shares) to 15.51% (1.03 crore shares).
A 5.71% stake sale by a promoter via block deal is a notable reduction in promoter holding and may exert short-term pressure on the stock price. Investors should monitor for any further disclosures regarding the buyer(s) of the block deal and the reasons behind the trimming of promoter stake.