The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sharad Poddar & PACs

Promoter sold over 1%Promoter holding below 50%Ownership Changes View source PDF Explain this filing

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₹218.00

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Nifty Microcap 250market · in no size index; the smallest one is used+0.5%+1.3% vs market

Other Textile Products peers, median of 172sector-0.1%+1.9% vs sector

On the reaction day the stock moved 1.3 pts more than Nifty Microcap 250 and 1.9 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Other Textile Products peers, median of 172Pending

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AI summary

Promoter Sharad Poddar has sold his entire personal stake of 5,36,633 equity shares (12.23% of total capital) in Jattashankar Industries Ltd through an off-market deal at Rs. 60 per share to non-promoter Nileshbhai Bhagvanjibhai Podara. The transaction, dated July 31, 2025, is based on a purchase agreement signed on December 20, 2024, and was carried out after complying with mandatory open offer requirements under Regulation 3(2) of SEBI (SAST) 2011. As a result, Sharad Poddar's individual holding in the company has gone to zero, while the broader promoter group (PACs) now holds 14,21,100 shares, or 32.39% of the company, down from 44.62% prior to the sale. The total share capital remains unchanged at 43,87,100 equity shares of Rs. 10 each.

Likely market impact

This is a meaningful promoter exit that brings the promoter group's stake down to 32.39%, well below the 50% control threshold, which may raise concerns about reduced promoter skin in the game. For shareholders, the off-market nature of the deal at a fixed price of Rs. 60 limits its direct impact on the market price, but the loss of a key individual promoter is a negative signal that could weigh on investor sentiment.