The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sukumar Srinivas
SHANKARA · price
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Sukumar Srinivas, Managing Director and Promoter of Shankara Building Products, sold 22,00,000 equity shares (9.07% of paid-up capital) on June 9, 2025 through a bulk deal. Before the sale, he held 1,15,88,787 shares (47.79%); after the sale, his holding stands at 93,88,787 shares (38.71%). The total share capital of the company remains 2,42,49,326 equity shares of Rs. 10 each. The disclosure was filed under Regulation 29(2) of the SEBI Takeover Regulations.
This is a significant promoter sell-down of over 9% in a single block deal, reducing promoter holding below the 50% threshold to 38.71%. Large promoter exits via bulk deals are generally viewed negatively by the market and may put short-term pressure on the stock price.