The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Umesh Vasantlal Modi
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Promoter and Managing Director Umesh Vasantlal Modi has filed two disclosures under SEBI's Takeover Regulations for open market share purchases that crossed the 2% cumulative threshold on two occasions. The first covers acquisitions from April 2017 to September 2018, where he bought 2,38,500 shares (2.38%), raising his holding from 26.54% to 28.92%. The second covers acquisitions from September 2018 to March 2020, where he bought another 1,53,000 shares (1.53%), raising his holding from 28.92% to 30.44%. All purchases were made in the open market. The disclosures relate to historical transactions (2017-2020) but are being filed with the exchange only in April 2025.
Promoter confidence is positive — the managing director has been steadily increasing his stake from 26.54% to 30.44% via open market purchases, signalling belief in the company's value. However, the late filing of disclosures for transactions done years ago may raise governance questions among shareholders.