The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pankaj Strips Pvt Ltd
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Pankaj Strips Pvt Ltd, a promoter group entity of Pankaj Polymers Ltd, sold 10,05,730 equity shares representing 18.14% of the company's total share capital. The sale was executed through an off-market Share Purchase Agreement (SPA) and pursuant to an open offer on May 14, 2026. Before the transaction, Pankaj Strips held 18.14% individually and 27.43% together with Persons Acting in Concert (PAC). After the sale, their individual holding dropped to NIL, while the combined holding with PAC reduced to just 9.29%. This represents a significant reduction in promoter shareholding from approximately 27% to 9%.
The massive reduction in promoter holding from 27.43% to 9.29% may signal lack of promoter confidence in the company, potentially creating negative sentiment for retail investors. The shares were sold at a premium via SPA and open offer route.