Disclosure as per Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015
Awaiting price reaction for this filing.
Harig Crankshafts' promoter, Palika Towns LLP, has sold 5,25,000 equity shares (5% of total share capital) through an Offer for Sale (OFS) on the BSE at a cut-off price of Rs. 6 per share. The transaction was carried out to comply with SEBI's Minimum Public Shareholding (MPS) norms, which require at least 10% public float. Post-transaction, the promoter's stake has come down from 99,75,000 shares (95%) to 94,50,000 shares (90%), while the public shareholding will rise to 10% (10,50,000 shares). The OFS was executed on October 1, 2025, and the company was informed on October 3, 2025. The disclosure has been filed under SEBI's insider trading regulations.
This is a regulatory-driven promoter stake sale, not a bearish signal. The lower cut-off price of Rs. 6 (vs face value of Rs. 10) reflects weak demand, but the trade expands the public float and brings the stock into MPS compliance, which could improve liquidity and index eligibility over time.