The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pradeep Malu
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Awaiting price reaction for this filing.
Promoter Pradeep Malu has sold 14,24,475 equity shares (6.69%) of iStreet Network Ltd through an off-market transaction under a Share Purchase Agreement dated 13 January 2025. The sale was completed on 16 September 2025. Before the sale, Malu held 17,13,332 shares (8.04%); after the sale, his holding drops to just 2,88,857 shares (1.35%). The company has 2.13 crore equity shares of Rs. 4 each as total share capital. The filing was made under SEBI SAST Regulation 29(1) and Insider Trading Regulations 7(2)(a) and 7(3).
A major promoter exit — holding falling from 8.04% to 1.35% signals significant promoter disengagement from the company. Retail investors should view this as a negative signal for confidence, though the off-market SPA route suggests a pre-arranged buyer is taking the shares.