The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sachin Modi
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Sachin Govindlal Modi, a non-promoter shareholder of Narmada Macplast Drip Irrigation Systems Ltd, sold 675,000 shares (1.86% of total equity) in the open market on March 23, 2026. This brought down his holding from 2,338,892 shares (6.45%) to 1,663,892 shares (4.59%) of the company. The disclosure was filed under SEBI's SAST Regulation 29(2) to report the change in his shareholding and voting rights. The total share capital of the company remained unchanged at 3,62,30,000 equity shares.
Since the seller is explicitly not part of the promoter group, this is a portfolio-level reduction by a significant non-promoter shareholder and does not affect promoter control of the company. The 1.86% block sale in the open market is unlikely to cause major price disruption but signals some profit-taking by a sizeable holder.