Please find enclosed disclosure received from shareholder belonging to Promoter group intimating sale of shares under Reg 7(2) of the SEBI (PIT) Regulations, 2015
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Pankaj Polymers Limited received disclosure from Pankaj Strips Private Limited, a member of the Promoter Group, regarding the sale of company shares. The sale was executed off-market through a Share Purchase Agreement (SPA). This disclosure is filed under Regulation 7(2)(a) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, which requires disclosure when a promoter group entity transacts in company shares. The specific number of shares sold was not quantified in the filing but the nature of disclosure suggests a significant transaction.
This indicates a reduction in promoter group holding in Pankaj Polymers. Shareholders should monitor for updated shareholding patterns to assess the extent of promoter stake reduction and its implications for control and governance.