The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Jigar Sheth & Vinodbhai Sheth
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Promoters Jigar Sheth and Vinodbhai Sheth together sold 1,50,000 shares of Gconnect Logitech and Supply Chain Ltd in the open market between June 6 and June 12, 2025. Jigar Sheth sold 97,500 shares (2.62%) and Vinodbhai Sheth sold 52,500 shares (1.41%). The promoter group's combined stake fell from 47.85% to 43.81% — a decline of 4.03 percentage points. The transaction was disclosed under SEBI's SAST Regulation 29(2), which is mandatory when promoter shareholding changes. Total equity capital of the company remained unchanged at 3,71,95,470 shares.
With promoter holding now below 50% (at 43.81%), the company technically no longer has promoters with a majority stake, which could affect governance and control narratives. Continued selling by promoters is often viewed negatively by retail investors as it may signal reduced promoter confidence, though no open offer trigger is crossed here (change is above 2% but aggregate promoter holding remains above the 10% minimum).