The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Umesh Modi
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Umesh Vasantlal Modi, a former (outgoing) promoter of Jupiter Infomedia Ltd, sold 2,50,000 equity shares (2.50% of total share capital) in the open market on May 25, 2026. Before the sale, he held 5,77,872 shares (5.77%). After the sale, his holding reduced to 3,27,872 shares (3.27%). He clarified that he is no longer a promoter, director, or in control/management of the company, having sold his majority shareholding to new acquirers who took over as promoters following a public open offer.
The former promoter is continuing to reduce his stake after the open offer change of control, indicating a complete exit is underway. The remaining ~3.27% holding may see further disposal in the coming months.