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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Awaiting price reaction for this filing.
Rakesh Chopdar, the Promoter, Chairman and CEO of Azad Engineering Limited, sold 31,67,702 equity shares (4.90% of total paid-up capital) through a bulk deal on NSE on June 6, 2025. His shareholding reduced from 59.35% (3,83,30,255 shares) to 54.44% (3,51,62,553 shares). The transaction was executed in the open market. Total equity share capital of the company stands at 6,45,81,743 shares of Rs. 2 face value. Despite the sale, the promoter continues to retain majority control with over 54% stake in the company.
A nearly 5% promoter stake sale in a single bulk deal is sizeable and may be viewed negatively by the market, potentially pressuring the stock price. However, promoter remains in majority control above 50%, and retail investors should watch for the reason behind the sale and whether further promoter selling follows.