The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vishal Pravin Thakkar
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Awaiting price reaction for this filing.
Promoter Vishal Pravin Thakkar has disclosed a series of open market share sales totaling 1,26,748 equity shares (4.77% of total share capital) between 19-08-2025 and 31-10-2025 across 13 separate transactions. His holding dropped from 2,76,990 shares (55.39%) to 1,50,242 shares (5.62% of share capital, 1.88% on diluted basis). The sharp percentage decline is largely due to the company allotting 19,75,000 equity shares on 12-09-2025 and 2,00,000 equity shares plus 53,00,000 convertible warrants on 17-09-2025 to non-promoters, which massively diluted the promoter stake. Combined with the open market sales, the promoter has effectively reduced his economic interest in the company from a majority to a very small minority position.
This is a significant negative signal for retail investors — the promoter is now holding just 5.62% (well below 10%), suggesting reduced skin in the game. The large preferential allotments to non-promoters alongside the ongoing open market selling may weigh on the stock and indicates a major shift in the company's ownership structure.