RACL Geartech Limited has informed the Exchange regarding 'Disclosure under Reg 29 (2) of SEBI SAST and Reg 7(2) of SEBI PIT'.
RACLGEAR · price
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The Pradeshiya Industrial and Investment Corporation of U.P. Ltd. (PICUP), a promoter of RACL Geartech, sold 500,000 equity shares (4.63% of the company's capital) through open market transactions on NSE/BSE on May 14, 2025, for an approximate value of Rs. 39.83 crore. As a result, PICUP's holding in the company has dropped from 1,503,300 shares (13.94%) to 1,003,300 shares (9.30%). The transaction was carried out by PICUP in compliance with SEBI's insider trading and takeover regulations.
This is a significant reduction in promoter stake, cutting PICUP's holding by roughly one-third. The exit may be viewed negatively by retail investors as it signals reduced promoter confidence, though it also improves public float. Watch for further disclosures as the promoter holding has now fallen close to the 5% disclosure threshold.