The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shaival Dharmendra Gandhi
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Shaival Dharmendra Gandhi, Managing Director and CFO of Pace E-Commerce Ventures, sold 2,92,800 shares (1.29% of total share capital) through an open market transaction on September 4, 2025. His holding dropped from 1,32,26,265 shares (58.69%) to 1,29,33,465 shares (57.39%), a reduction of 1.30 percentage points. No encumbrance (pledge) was involved, and the equity share capital of the company remained unchanged at 2,25,33,510 shares. The disclosure was filed under Regulation 29(2) of SEBI SAST Regulations, 2011, which is mandatory for promoter stake changes exceeding 1%.
Despite the sale, the promoter continues to hold a majority 57.39% stake, so control of the company is not at risk. However, continued open market sales by a promoter may exert mild downward pressure on the stock and could be viewed as a negative sentiment signal by retail investors.