The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Umesh Vasantlal Modi
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.3 pts less than Nifty Microcap 250 and 4.9 pts less than its Internet & Catalogue Retail peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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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.