Declaration in Compliance with regulation 31(4)
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Rajasthan Tube Manufacturing Company has filed a SEBI Regulation 31(4) declaration regarding the disposal of equity shares by its promoters during the financial year ended 31st March 2026. Promoter Harish Chand Jain submitted the disclosure on behalf of all promoters and persons acting in concert (PAC). According to the annexure, three promoter-group members sold shares: Deepika Jain sold 2,10,432 shares (6 May 2025), Pradeep Jain sold 16,20,000 shares (26 May 2025), and Saurabh Jain sold 2,10,000 shares (8 May 2025) — a combined sale of about 20.4 lakh shares. As on 31 March 2026, the remaining promoter-group holdings stood at roughly 7.56 lakh shares (Deepika Jain 2,32,096; Rajshree Jain 2,43,219; Pradeep Jain 1,59,686; Saurabh Jain 1,08,822; Harish Chand Jain 13,290). Notably, Harish Chand Jain stated that he and his family have had no control over the company's affairs since 28 June 2025 and have already applied to be removed from the promoter list, but are filing this declaration because the removal is still pending.
This signals a significant promoter exit, with promoter shareholding reduced to a very small fraction of the company. For retail investors, this is a negative governance signal, as selling promoters and a pending promoter-status removal may indicate weak insider confidence and reduce the promoter 'skin-in-the-game' cushion typically associated with small-cap names.