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, Promoter and Managing Director of Jupiter Infomedia Ltd, has disclosed a sale of 3,00,000 equity shares (3.00% of paid-up capital) under Regulation 29(2) of SEBI (SAST) Regulations, 2011. His holding reduced from 21,27,872 shares (21.24%) to 18,27,872 shares (18.24%). The transaction was carried out off-market on March 23, 2026, pursuant to a Share Purchase Agreement dated April 9, 2025. The disclosure is also filed under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015. The company's total share capital remains unchanged at 1,00,20,000 equity shares of Rs 10 each.
This is a promoter stake sale of 3% off-market, which may be viewed negatively by retail investors as it signals the promoter reducing his direct holding in the company. However, the promoter retains 18.24% and continues as Managing Director, so he remains meaningfully invested.