The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vikram Shah
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Vikram Navalchand Shah, a promoter of Rikhav Securities Ltd, has disclosed a sale of 3,00,800 equity shares (0.79% of the company's share capital) through the open market on March 11, 2026. This brings down his holding from 20,07,876 shares (5.24%) to 17,07,076 shares (4.46%). The disclosure has been filed under Regulation 29(2) of SEBI's Takeover Code, indicating his cumulative stake change in the financial year has crossed the regulatory threshold requiring disclosure. The transaction was executed in the open market, and the company's total equity share capital remained unchanged at Rs. 19.14 crore (3.82 crore shares of Rs. 5 each).
This is a modest promoter sell-off in an already small-cap stock, which could mildly weigh on sentiment given reduced promoter skin in the game (holding now under 5%). Retail investors should watch for further promoter sales, as continued trimming could signal weakening confidence in the company.