The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Rakesh Chopdar
AZAD · price
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Rakesh Chopdar, the Promoter, Chairman and CEO of Azad Engineering Limited, sold 31,67,702 equity shares (4.90% of total share capital) through a bulk deal on NSE on June 6, 2025. His stake dropped from 59.35% (3,83,30,255 shares) to 54.44% (3,51,62,553 shares). The disclosure was filed under SEBI's Takeover Regulations. Despite the sale, the promoter continues to hold a majority stake above 50%.
A 4.90% promoter sale in a single bulk deal is a significant divestment and may weigh negatively on stock sentiment in the short term. However, the promoter retains majority control at 54.44%, so there is no threat to management or change-of-control implications.