The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Torner Tie Up Pvt Ltd
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On the reaction day the stock moved 7.9 pts more than Nifty Microcap 250 and 7.7 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Torner Tie Up Pvt Ltd, a member of the promoter/promoter group of Decillion Finance Ltd, has filed a disclosure under Regulation 29(2) of the SEBI Takeover Regulations. The entity sold its entire holding of 2,37,000 equity shares in Decillion Finance through the open market on 25 October 2024. Prior to the sale, Torner Tie Up held 2,37,000 shares carrying voting rights, and post-sale its holding stands at nil. The total equity share capital of Decillion Finance is ₹1,50,00,000, which remains unchanged. No encumbrances, warrants or convertible instruments were involved in the transaction.
This indicates a promoter-group entity has fully exited its stake in Decillion Finance, which may be viewed negatively by retail investors as it signals the promoter group reducing its skin in the game. However, the absolute size of the sale is small relative to total capital, so the direct price impact is likely limited.