The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Parshottambhai Naranbhai Gevariya
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On the reaction day the stock moved 3.8 pts more than Nifty Microcap 250 and 4.5 pts more than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Promoter Parshottambhai Naranbhai Gevariya sold all his remaining shares in Kanungo Financiers Ltd through three separate open market transactions on 21, 22, and 25 August 2025. He sold 100,000 shares each day — a total of 300,000 shares, which equals 6.47% of the company's equity. His holding dropped from 6.47% (300,000 shares) to 0% (nil shares), meaning a complete exit from the company. The company's total share capital is Rs. 4.63 crore, divided into 46,34,000 equity shares of Rs. 10 each. The disclosure was filed under SEBI's Substantial Acquisition of Shares & Takeovers Regulations, 2011.
This is a negative signal for retail investors as it represents a complete exit by a promoter, which may erode confidence in the stock. A promoter selling down to zero typically raises concerns about their outlook on the company. Existing shareholders should monitor the stock price for any further weakness and watch for additional disclosures from other promoter group members.