The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Pradeep Jain
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Pradeep Jain, classified as a promoter of Rajasthan Tube Manufacturing Company Ltd, has sold 16,20,000 equity shares in the open market on 26 May 2025. This reduced his shareholding from 32,16,330 shares (7.14%) to 15,96,330 shares (3.55%) of the company. The sale represents a 3.59 percentage point reduction in his stake. The total share capital of the company remained unchanged at 4,50,78,000 shares. The disclosure was filed on 27 May 2025 under Regulation 29(2) of the SEBI Takeover Regulations.
A promoter cutting his stake by half (from 7.14% to 3.55%) in an open market sale is generally viewed as a negative signal by retail investors, as it may indicate reduced confidence or an exit strategy, though it also improves public float. Existing shareholders should monitor for further disclosures and any change in overall promoter group holding.