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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Awaiting price reaction for this filing.
Mr. Shahnawaz Aijazuddin Shaikh, Whole-time Director and CFO of Octaware Technologies Ltd, sold 1,12,000 equity shares through an on-market transaction on 05-08-2025 at ₹25.46 per share. This reduced his holding from 4,75,348 shares (13.24%) to 3,63,348 shares (10.12%), a reduction of about 3.12% of the company's equity capital. The disclosure explicitly states that the seller does NOT belong to the Promoter or Promoter Group. The filing was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.
A senior insider (Whole-time Director & CFO) trimming a meaningful ~3.12% stake through open-market sale could be viewed negatively by retail investors as it may signal reduced insider confidence, though the seller is not part of the promoter group. The small free-float and low trading price of the stock (₹25.46) mean such sales can move sentiment.