Disclosure with respect to achieving minimum public shareholding
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Promoters Boby M. Jacob and Minni Boby Jacob have informed the company of their intention to collectively sell 8,07,917 equity shares, representing 4.77% of the equity share capital, in the open market. The sale will be carried out in one or more tranches within 12 months to comply with the minimum public shareholding requirement under SEBI rules. The promoters have also confirmed they will not buy shares on the days they are selling, and the volume sold will not exceed the prior 12 months' trading volume. This is a regulatory compliance disclosure under SEBI LODR Regulations and the SCRR.
Shareholders should expect some dilution of promoter holding and an increase in public float over the next 12 months. The gradual open-market sale may create mild supply-side pressure on the stock, though the volume restriction limits the immediate impact.