The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Meet Panchmatiya & PACs
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Awaiting price reaction for this filing.
Promoter group members Meet Panchmatiya and Riddhi Panchmatiya sold a total of 81,000 equity shares (0.80% of share capital) of Poojawestern Metaliks Ltd through open market transactions on November 12 and November 17, 2023. The sales were split into three tranches: Riddhi Panchmatiya sold 11,000 shares on Nov 12 and 25,000 shares on Nov 17, while Meet Panchmatiya sold 45,000 shares on Nov 17. Following these sales, the combined promoter group holding declined from 63.33% (64,22,596 shares) to 62.53% (63,41,596 shares). The company has 1,01,42,000 equity shares outstanding, and the disclosures were filed with BSE.
This is a modest promoter stake sale of less than 1% and is unlikely to materially impact the stock price. The promoter group retains a strong controlling stake of 62.53%, well above the majority threshold. Retail investors should note the pattern of promoter selling, but the scale here is small.