The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Akshay Sevantilal Mehta
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Awaiting price reaction for this filing.
Promoter Akshay Sevantilal Mehta has sold 26,43,500 equity shares of Bhakti Gems and Jewellery Limited, amounting to 17.58% of the company's total share capital. The sale was carried out through both open market and off-market routes between August 22 and August 26, 2025. As a result, his holding has come down from 48.41% (72,80,452 shares) to 30.83% (46,36,952 shares). The disclosure also names other promoter group members Meet Prafulchandra Mehta and Varshaben Akshay Mehta. The company's total equity share capital is 1,50,39,518 shares of Rs. 10 each.
A massive 17.58% promoter stake sale in just a few days is a negative signal and may weigh on stock sentiment due to concerns over promoter confidence and the possibility of further selling. Promoter holding has now fallen below the 50% mark, reducing their control over the company.