Disclosure under Regulation 29(2) of SEBI ( Substantial Acquisition of shares and Takeovers) Regulation 2011 - Rasiklal Thakkar
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Rasiklal Thakkar, a promoter of Gravity India Limited, sold 59,588 equity shares (face value Rs. 10 each) on 21-08-2025 through the open market on BSE. This represented 0.6619% of the company's total share capital. After this sale, his holding has gone down to zero — meaning he has completely exited his promoter stake in the company. The company's total equity capital remains unchanged at Rs. 9,00,19,500 (90,01,950 shares). The disclosure was filed under SEBI's takeover regulations to formally report this transaction.
Although the percentage sold is small (under 1%), a promoter fully exiting their stake may raise concerns among retail investors about the promoter's confidence in the company. This is a sentiment-driven event rather than a material ownership change for the broader shareholder base.