The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Akshay Sevantilal Mehta & Other
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Awaiting price reaction for this filing.
Promoters of Bhakti Gems and Jewellery sold a combined 14,25,000 shares (9.48% of equity) between September 1 and September 11, 2025, through open market and off-market transactions. Akshay Sevantilal Mehta sold 11,00,000 shares (7.31%) for about Rs. 2.20 crore, while Varshaben Akshay Mehta sold 3,25,000 shares (2.16%) for about Rs. 66.29 lakh. Combined promoter group holding fell from 24.21% (36,41,495 shares) to 14.74% (22,16,495 shares) post-sale. Total share capital remains 1.50 crore equity shares of Rs. 10 each.
This is a significant promoter exit of nearly 10% in 11 days, which is generally viewed negatively by retail investors as it may indicate reduced promoter confidence or funding needs. The sharp drop in promoter holding from 24.21% to 14.74% could weigh on the stock sentiment, though the sale price implies a market or negotiated price rather than distress.