Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulation 2011 - Dakshaben Thakkar
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On the reaction day the stock moved 2.3 pts more than Nifty Microcap 250 and 2.8 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Dakshaben Rasiklal Thakkar, a promoter of Gravity India Ltd, has sold 430,610 equity shares (4.78% of total capital) on 2 June 2025 through the open market. This brought down her holding from 750,415 shares (8.34%) to 319,805 shares (3.55%). The transaction was disclosed under SEBI's Takeover Regulations, which require promoters to report any change in holding exceeding 2% in a financial year. The company's total share capital remains at 9,001,950 shares.
This is a meaningful promoter exit — her stake has been cut by more than half (from 8.34% to 3.55%). Such open-market selling by a promoter can put short-term pressure on the stock price and may dent investor confidence, though it also improves public float. Retail investors should watch for any further disclosures of promoter selling.