The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Jayantibhai Somabhai Patel & PACs
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Awaiting price reaction for this filing.
Jayantibhai Somabhai Patel, a promoter of Promact Plastics Ltd, purchased 1,46,101 equity shares (face value Rs. 10) on 3rd June 2026 through the open market, raising his individual stake from 7.18% (4,67,122 shares) to 9.42% (6,13,223 shares). The filing was made under Regulation 29(2) of the SEBI Takeover Regulations. Meanwhile, two persons acting in concert with him — Patel Mital Sachinkumar (sold 81,188 shares, 1.25%) and Krishnaben Dharmendrabhai Patel (sold 65,000 shares, 1.00%) — trimmed their holdings. The total promoter group holding remained virtually flat at around 40.37% (down marginally from 40.38%) because the promoter buy was offset by PAC sales.
This is a confidence signal from the promoter, who is increasing his personal stake closer to the 10% mark, though overall promoter control remains below 50%. The simultaneous small sales by PAC members suggest some reshuffling within the promoter group rather than a change in control, so the stock impact is likely neutral to mildly positive.