The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ashoka Investment Holdings Ltd
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Mauritius-based investor Ashoka Investment Holdings Ltd, which is not part of the promoter group, has sold 484,916 equity shares (face value INR 10) of Kinetic Engineering Ltd through open market trades in multiple tranches between August 19, 2024 and April 3, 2025. The shares sold represent 2.0713% of the company's paid-up equity capital. After this sale, Ashoka Investment Holdings' stake in Kinetic Engineering has come down from 7.4770% (17,50,452 shares) to 5.4057% (12,65,536 shares). The disclosure was triggered because the aggregate shares sold crossed the 2% threshold under SEBI takeover regulations.
This is a steady, ongoing sell-down by a foreign institutional investor over roughly 7-8 months, which could create a mild supply overhang on the stock. Since the seller is not a promoter, there is no change in promoter holding or control of the company, but a declining FII stake is generally viewed as a mildly negative sentiment signal by retail investors.