Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulation 2011
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Mr. Samir Thakkar, identified as a promoter of Gravity (India) Limited, has sold 88,368 equity shares representing about 0.98% of the company's total share capital (2,001,950 shares) through open market on April 29, 2025. Before the sale, he held 0.9817% of the company, and after the sale his holding stands at 0%, meaning he has completely exited his stake in the company. The disclosure has been made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction has been reported to BSE on April 30, 2025.
This is a complete exit by promoter Mr. Samir Thakkar, which may raise governance concerns among retail investors about the promoter's confidence in the company. However, the stake sold is small (under 1%), so the direct price impact is likely limited.