The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Nitin Patil & Manoj Panvelkar
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On the reaction day the stock moved 4.7 pts less than Nifty Microcap 250 and 5.4 pts less than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Two promoter-group members of GTT Data Solutions Ltd — Nitin Patil and Manoj Panvelkar — together sold 14,00,000 equity shares (3.65% of total share capital) via an off-market Share Transfer Agreement dated March 28, 2025. Each of them sold 7,00,000 shares, reducing their individual holdings from 4.50% to 2.67% of the company. As a result, the total promoter and promoter-group shareholding in the company dropped from 71.50% to 67.85%. The sale was carried out off-market and was disclosed under Regulation 29(2) of SEBI's Takeover Regulations. Other promoter-group members' holdings remained unchanged.
The promoter group has trimmed its stake by 3.65 percentage points in a single off-market transaction, but still retains a strong 67.85% holding — so control of the company is not at risk. The transfer was between specific promoter-group members rather than a market sale, so there is limited direct impact on stock price, though retail investors may note the gradual promoter dilution.