The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Minal Shah, Abhay Shah, Aparna Shah, Ajay Shah ....
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Five individuals from the Shah family (none classified as promoters/promoter group) have disclosed off-market sales of Organic Coatings Ltd shares. Minal Shah sold her entire 1,61,865 shares (1.62%), Abhay Shah sold 3,26,891 shares (3.28%) reducing holding from 8.04% to 4.76%, Aparna Shah sold her entire 1,00,000 shares (1%), Ajay Shah (Wholetime Director & CFO) sold 1,89,000 shares (1.89%) reducing holding from 4.35% to 2.46%, and Rajnikant Shah sold his entire 2,00,660 shares (2.01%). In aggregate, approximately 9.78 lakh shares (about 9.81% of equity capital) were sold off-market on December 26-29, 2025. All sales were executed off-market, suggesting negotiated block deals rather than open-market liquidation.
Significant insider-related selling (nearly 10% of equity) via off-market route within a few days signals possible private transfer or block deal. While the sellers are technically classified as non-promoters, they include a Wholetime Director/CFO and his close family, which may raise governance concerns and create short-term overhang perception among retail investors.