The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Florintree Enterprise LLP
IDEAFORGE · price
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On the reaction day the stock moved 2.6 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Florintree Enterprise LLP, a non-promoter entity, has disclosed an open market sale of 10,09,221 equity shares (2.34%) of ideaForge Technology on March 28, 2025. Before the sale, Florintree held 2.34% directly plus 8.33% in encumbered (pledged) shares, totalling a 10.67% stake. After the sale, the direct holding drops to zero, while the 35,88,749 pledged shares (8.33%) remain encumbered. The acquirer is not part of the promoter/promoter group, and there is no change to the company's total share capital.
This is a non-promoter offloading shares, which could create mild short-term supply pressure on the stock. Investors should note that a significant 8.33% of shares are still pledged, which remains a risk factor to monitor.