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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Members of the promoter group of Poojawestern Metaliks Ltd — Meet Panchmatiya and Vivek Sunil Panchmatiya — sold a total of 1,08,231 equity shares (about 1.07% of the company) through open market transactions on November 7 and November 8, 2023. Meet Panchmatiya sold 30,809 shares (0.30%), while Vivek Sunil Panchmatiya sold 77,422 shares (0.76%). As a result, the combined promoter group holding reduced from 64.39% to 63.33% of the company's share capital. The promoter group remains comfortably above the 50% takeover threshold, and the share capital of the company remains unchanged at 1,01,42,000 equity shares.
This is a modest promoter offloading that reduces promoter holding by just over 1%, with no threat to promoter control since the group still holds 63.33%. Retail investors may interpret it as promoters taking some profit off the table, but it is not a significant enough sale to materially shift control or signal weakness on its own.