Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 in respect of sale of equity shares of Clean Science and Technology Limited
CLEAN · price
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On the reaction day the stock moved 0.5 pts less than Nifty Smallcap 250 and 0.9 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Six members of the promoter group of Clean Science and Technology — Krishnakumar Boob, Nilima Boob, Shradha Kariwala, Ashok Boob, Asha Boob and Parth Maheshwari — sold a combined 2.55 crore equity shares (24% of total share capital) in the open market on August 21, 2025. The last similar disclosure was made on May 30, 2023, meaning this is a significant one-time divestment after more than two years. As a result, the aggregate promoter group holding has dropped from 74.97% to 50.97% of the company's equity share capital, with the diluted voting capital falling from 74.75% to 50.82%. The biggest individual sellers were Ashok Boob (holding fell from 12.80% to 5.90%) and Asha Boob (8.01% to 1.49%). Total equity share capital of the company remains unchanged at approximately 10.63 crore shares of ₹1 each.
This is a major negative signal for retail investors — a 24 percentage-point promoter exit in a single day through open market sales is unusually large and could weigh heavily on the stock price due to supply overhang and reduced promoter skin-in-the-game. The fact that promoter holding is now barely above the 50% threshold (at 50.97%) means further sales cannot be ruled out, and creeping acquisition rules would not apply since this is a sale, not a buy.