The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kannan Krishnan Naiker & PACs
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Kannan Krishnan Naiker, Promoter and Managing Director of Iconik Sports and Events Ltd (formerly ID Info Business Services Ltd), sold 4,69,511 equity shares in the open market on 24 and 25 February 2026. His personal stake fell from 9,69,511 shares (2.86%) to 5,00,000 shares (1.47%), a reduction of 1.39% of the company's capital. The total promoter and PAC group holding dropped from 34,05,671 shares (10.07%) to 29,36,160 shares (8.68%). The company's equity share capital remains unchanged at Rs. 33.84 crore (3.38 crore shares of Rs. 10 each). This is a routine SAST disclosure triggered because the individual seller's stake crossed the 1% reporting threshold.
This is a notable insider exit — the promoter offloaded nearly half of his personal holding in two days, which may be viewed negatively by retail investors and could pressure the stock in the short term. However, the promoter group still retains a combined 8.68% stake, so control of the company is not at risk.