The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Suresh Gaggar HUF
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Suresh Gaggar HUF, part of the promoter group of Garnet International Ltd, sold 102,000 equity shares (0.52% of total share capital) through the open market on 20 June 2025. This reduced the HUF's holding from 138,946 shares (0.71%) to 36,946 shares (0.19%), meaning the entity offloaded roughly 73% of its stake in a single transaction. The company has 1,96,35,000 total equity shares outstanding. The sale was disclosed to BSE under SEBI's Substantial Acquisition of Shares & Takeovers Regulations.
This is a notable promoter-group trimming of stake, which may be viewed negatively by retail investors as it signals reduced promoter confidence or a need for liquidity. However, the absolute size is small (under 1% of the company) and the seller is a single HUF entity, not the entire promoter group, so broader sentiment impact may be limited.