The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Balaji Raghavan & Others
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On the reaction day the stock moved 8.1 pts less than Nifty Microcap 250 and 6.9 pts less than its Education peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Three promoter group members of Ironwood Education Ltd — Balaji Raghavan, Manojshankar Tripathi, and Nitish Nagori — together sold 8,36,259 equity shares (5.55% of total) through an Offer for Sale via the stock exchange mechanism on September 4 and 5, 2025. Balaji Raghavan sold the largest chunk at 4,45,932 shares (2.96%), followed by Manojshankar Tripathi at 2,86,712 shares (1.90%), and Nitish Nagori at 1,03,615 shares (0.69%). As a result, the total promoter and promoter group holding reduced from 82.19% (1,23,84,953 shares) to 76.64% (1,15,48,694 shares). The share capital of the company remains unchanged at 1,50,68,956 equity shares of Rs. 10 each.
A 5.55% stake sale by promoters through the OFS route is a sizeable reduction and may be viewed negatively by retail investors as it signals promoters moderating their ownership. However, post-sale promoter holding remains very high at 76.64%, indicating continued strong promoter control. The stock could see short-term supply pressure if the OFS shares are absorbed slowly in the market.