The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ajay Kumar Kayan & Others
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Ajay Kumar Kayan, along with Persons Acting in Concert (PACs) including family members and Alberta Agro Private Limited, has disclosed a sale of more than 2% equity shares of Rasandik Engineering Industries India Ltd under SEBI's Takeover Regulations. The promoter group sold 1,34,056 shares (2.24% of paid-up capital) through open market transactions across multiple dates between December 2023 and March 2025. As a result, their combined holding dropped from 3,74,416 shares (6.27%) to 2,40,360 shares (4.02%) of the company. The total equity share capital of the company stands at Rs. 5,97,50,000.
This is a notable reduction in promoter group stake by over one-third, which may be viewed negatively by retail investors as it signals promoter group exiting the stock. However, the sale happened gradually over several months, suggesting an orderly divestment rather than a sudden exit.