The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Varun Rasiklal Thakkar
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Varun Rasiklal Thakkar, Managing Director and Promoter of Gravity (India) Limited, sold 230,627 equity shares (2.5625% of total capital) in the open market on 13 May 2025. The disclosure was filed under SEBI SAST Regulation 29(2) and Insider Trading Regulation 7(2) read with 6(2). Post-sale, his holding dropped from 937,125 shares (10.4102%) to 706,498 shares (7.8477%). The total equity share capital of the company stands at 90,01,950 shares, listed on BSE.
A promoter offloading over 2.5% in the open market is typically viewed as a negative signal by retail investors, as it may suggest reduced promoter confidence in near-term valuations. With holdings now at just 7.85%, the promoter's grip on the company has materially weakened, which could affect governance and future strategic decisions.