The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Khamgaon Land Devlopment & Trading Company Pvt Ltd
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Khamgaon Land Development & Trading Company Pvt Ltd, part of the promoter group of India Steel Works Limited, sold 3,672,765 equity shares in the open market over two days — 3,000,000 shares on 27 March 2025 and 672,765 shares on 28 March 2025. The sale reduced the seller's individual stake from 0.943% (3,753,275 shares) to just 0.020% (80,510 shares), meaning nearly the entire direct holding was offloaded. The total promoter group holding in India Steel Works slipped modestly from 37.212% to 37.043% of share capital. The company's total equity base is around 39.81 crore shares.
This is a significant exit by one promoter-group entity, even though the overall promoter holding only dipped by 0.17 percentage points. Open-market selling by promoters can weigh on short-term sentiment and signal weak insider conviction, but control of the company remains firmly with the promoter group at over 37%.