The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Prahaladbhai Shivrambhai Patel & PACs
PSPPROJECT · price
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PSP Projects promoter Prahaladbhai Shivrambhai Patel, along with persons acting in concert, sold 1,01,98,734 equity shares (25.73% of the company) through a combination of on-market bulk deal and off-market transactions on August 4 and August 5, 2025. His holding fell sharply from 1,89,34,308 shares (47.76%) to 87,35,574 shares (22.04%), meaning he sold more than half of his pre-existing stake. No shares are encumbered or pledged before or after the sale. The disclosure has been made under SEBI's takeover regulations (Regulation 29(2)) due to the significant change in shareholding.
This is a very large promoter exit that nearly halves his ownership in the company, pushing the promoter group's stake well below 50%. Such a steep reduction in promoter holding is generally viewed negatively by the market and could put meaningful pressure on the stock price, as it may signal a loss of confidence or a strategic exit by the founding promoter.