The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shahnawaz Aijazuddin Shaikh
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Shahnawaz Aijazuddin Shaikh, Whole-time Director and CFO of Octaware Technologies Ltd, sold 1,12,000 equity shares through on-market transactions on 05-08-2025 at Rs. 25.46 per share, valued at roughly Rs. 28.52 lakhs. The seller is explicitly identified as NOT belonging to the promoter or promoter group. After this sale, his holding in the company dropped from 4,75,348 shares (13.24%) to 3,63,348 shares (10.12%), a reduction of about 3.12% in stake. The company's total equity share capital remains unchanged at 35,90,570 shares of Rs. 10 each. The disclosure was filed under Regulation 29(2) of SEBI's Substantial Acquisition of Shares & Takeovers Regulations.
A senior insider (CFO and Whole-time Director) liquidating over 3% of his stake on the open market may be perceived negatively by retail investors as it can signal personal financial decisions or weaker insider confidence. Since the seller is not a promoter, no mandatory open offer is triggered, but shareholders should watch for further disclosures or price action following this block of supply.