The Exchange has received the revised disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Mohammed Siraj Moinuddin Gunwan
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Mohammed Siraj Moinuddin Gunwan, Whole-time Director of Octaware Technologies Ltd (BSE: 540416), sold 2,88,000 equity shares (8.02% of the company's share capital) in an open-market transaction at Rs. 25.46 per share on 5 August 2025, taking his holding down from 8.9974% (3,23,057 shares) to 0.9764% (35,057 shares). The total value of the sale was approximately Rs. 73.32 lakhs. This is a revised filing — the original had a typographical error (33,057 instead of 35,057 in post-sale shareholding) which has now been corrected; the percentage figures were correctly stated in the original. Importantly, the director has confirmed he does NOT belong to the promoter or promoter group.
This is a near-complete exit by a key executive (only 35,057 shares retained) and is likely to be viewed negatively by retail investors as a sign of weak insider confidence. However, since the seller is a director and not a promoter, the change in shareholding does not materially alter promoter control of the company.