The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Saurabh Jain
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Saurabh Jain, a member of the promoter group of Rajasthan Tube Manufacturing Company Ltd, has sold 2,10,000 equity shares (4.66% of the company's share capital) through an off-market transaction on May 5, 2025. Following this sale, his holding in the company has reduced from 5,28,822 shares (11.73%) to 3,18,822 shares (7.07%). The company has a total equity share capital of 4,50,78,000 shares. The disclosure was filed with BSE on May 6, 2025.
This is a notable promoter stake reduction — Saurabh Jain has cut his holding by roughly 40% (from 11.73% to 7.07%) in a single off-market deal. Retail investors typically view such large insider sell-offs negatively as they may signal reduced promoter confidence in the company's near-term prospects.