The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Hitesh Natwarlal Kawa & PACs
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On the reaction day the stock moved 0.3 pts more than Nifty Microcap 250 and 0.5 pts more than its Plastic Products - Industrial peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Hitesh Natwarlal Kawa along with his Persons Acting in Concert (PACs) reduced their combined holding in R M Drip and Sprinklers Systems Limited from 19.51% (4,87,40,000 shares) to 17.01% (4,24,93,959 shares) over the period from August 19, 2024 to October 15, 2025. This is a net sale of 62,46,041 shares (2.50% of equity) done through open market transactions. The group also made minor purchases totaling 1,50,000 shares during the same period, partly offsetting the sales. The largest sellers were Hitesh Natwarlal Kawa himself (29,45,000 shares) and Roopal Hitesh Kawa (21,50,000 shares). The acquirers are explicitly stated to not belong to the promoter or promoter group of the company.
Since these are non-promoter shareholders trimming their stake, this is not a promoter-driven confidence signal and does not change control of the company. It may, however, add some supply-side pressure on the stock in the short term given the open-market nature of the sales.