The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vivek Sunil Panchmatiya & PACs
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Awaiting price reaction for this filing.
Promoter group members Vivek Sunil Panchmatiya and Meet Panchmatiya sold a total of 1,08,231 equity shares (1.07% of total share capital) through open market transactions on November 7-8, 2023. Vivek Panchmatiya sold 77,422 shares (0.76%), reducing his holding from 3.52% to 2.76%. Meet Panchmatiya sold 30,809 shares (0.30%), reducing his holding from 3.11% to 2.81%. The combined promoter group holding declined from 64.39% to 63.33%. The shares were sold in four separate market transactions over two days at face value of Rs. 10 each.
This is a relatively small promoter group offload of about 1% via open market, which could create mild short-term selling pressure on the stock. Promoter holding remains very strong at 63.33%, so long-term control is unaffected. Retail investors should watch for any further sales by the promoter group.