The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Rasiklal Thakkar
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Rasiklal Thakkar, a promoter of Gravity India Limited, sold all his 59,588 equity shares in the open market on 21 August 2025. The shares sold represent 0.6619% of the company's total share capital, which stands at Rs. 9,00,19,500 (90,01,950 equity shares of Rs. 10 each). After this transaction, the promoter's entire holding has been reduced to zero, marking a complete exit from the company. The disclosure was filed under Regulation 29(2) of SEBI's Substantial Acquisition of Shares & Takeovers Regulations, 2011.
A complete exit by a promoter is typically viewed negatively by retail investors, as it may signal loss of insider confidence in the company. Even though the sale size is small at around 0.66% of capital, a promoter fully cashing out can create short-term negative sentiment and put mild pressure on the stock price.