The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pawan Kumar Mittal & Pawan Kumar Mittal HUF
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On the reaction day the stock moved 10.1 pts more than Nifty Microcap 250 and 9.4 pts more than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Pawan Kumar Mittal, acting individually and as Karta of Pawan Kumar Mittal HUF — who are explicitly NOT part of the promoter/promoter group — sold a total of 2,90,000 equity shares (5.38% of the company) in the open market between August 26 and September 5, 2025. After the sales, Mr. Mittal's individual holding has dropped to NIL, while the HUF's holding reduced from 6,75,000 shares (12.52%) to 6,25,000 shares (11.59%). Combined holding went from 16.97% (9,65,000 shares) to 11.59% (6,25,000 shares). The disclosure was filed under Regulation 29(2) of SEBI Takeover Regulations, 2011, which is triggered when a non-promoter shareholder's holding changes by more than 2% or falls below the 10% threshold. The company has a total equity capital of 53,93,000 shares of Rs. 10 each.
Since the seller is not a promoter, this does not affect promoter control or management of the company. However, sustained open-market selling of this size over multiple trading sessions could weigh on short-term sentiment and may signal that the seller is reducing his long-term conviction or needs liquidity. HUF still holds above 11%, so a further disclosure will likely be required if it crosses or falls below the 10% mark.