The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Rishi Hiten Parikh & PACs
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Rishi Hiten Parikh, along with persons acting in concert (PACs), sold 42,93,663 shares (1.22%) of Last Mile Enterprises Ltd in the open market on September 8, 2025. Their combined holding dropped from 27.03% (9,47,92,780 shares) to 25.81% (9,04,99,117 shares) of the company's equity capital. The disclosure was filed under Regulation 29(2) of SEBI's SAST Regulations, 2011, and confirms the seller belongs to the promoter/promoter group. The company's total equity share capital stands at Rs. 35,06,92,350 (35.07 crore shares of Re. 1 each), unchanged before and after the transaction. Several individuals and entities are listed as PACs, including family members and group firms such as Saffron Finance Ltd and TransFiscal Private Ltd.
Promoter group selling shares in the open market is typically viewed as a cautious signal by retail investors, as it may suggest reduced confidence or a need to exit. However, the 1.22% reduction is relatively small, and the promoter group continues to hold a meaningful 25.81% stake in the company, which has now fallen below the 50% majority threshold.