The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Rajiv Agrawal
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Awaiting price reaction for this filing.
Rajiv Govindram Agrawal, Whole-Time Director and part of the promoter group of Mahip Industries Ltd, sold 31,00,000 equity shares (16.11% of the company) through an off-market transaction on March 13, 2026. Before the sale, he held 91,55,136 shares (47.58% stake); after the sale, his holding stands at 60,55,136 shares (31.47%). The deal value is not disclosed in the filing. The company's total equity share capital remains 1,92,39,984 shares of Rs. 10 each. The disclosure was filed with BSE on March 16, 2026 under SEBI Takeover Regulations.
This is a large promoter sell-off that pushes promoter ownership below the 50% mark, which may raise governance and control concerns among retail investors. The off-market route suggests a negotiated block deal rather than open-market pressure, but the sheer size of the stake reduction is likely to weigh negatively on sentiment.