The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pravinaben Pradyumna Shah
DEVIT · price
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Pravinaben Pradyumna Shah, an immediate relative of the promoter, sold 10,00,000 equity shares (1.78% of total share capital) of Dev Information Technology Ltd in the open market on March 5, 2026. Her holding came down from 17,55,000 shares (3.11%) to 7,55,000 shares (1.34%) post the transaction. The disclosure was filed under Regulation 29(2) of SEBI's Takeover Regulations on March 6, 2026. The seller acted on behalf of the promoter/promoter group through Mr. Prerak Pradyumna Shah. The company's total equity stands at 11,26,70,464 shares of Rs. 2 each, with no change in capital.
This is a promoter group sell-off exceeding the 1% threshold that triggers disclosure, which retail investors should watch as a bearish sentiment signal from insider-side selling. However, it is a single transaction by an immediate relative, not the main promoter, so the overall promoter group holding remains intact.