The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kusumben Modi
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Kusumben Vasantlal Modi, a member of the promoter group of Jupiter Infomedia Ltd, sold 7,80,000 shares (7.78% of the company's equity capital) on March 9, 2026 through open market. This reduced her individual holding from 9,50,000 shares (9.48%) to 1,70,000 shares (1.70%). The disclosure was filed under SEBI's Takeover Regulations (Reg 29(2)) and Insider Trading Regulations (Reg 7(2)). This is a significant reduction in promoter group holding, with the seller retaining only a small residual stake.
A 7.78% open-market sale by a promoter group member is a large exit and may put short-term pressure on the stock price. It also signals reduced promoter conviction and could weaken the promoter group's overall control, potentially shifting the balance toward non-promoter shareholders.