The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ajay Relan
SHARDAMOTR · price
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Promoter Ajay Relan has disclosed a large reduction in his shareholding in Sharda Motor Industries under SEBI SAST Regulation 29(2). His holding has dropped from 1,67,21,017 shares (58.25%) to 35,17,244 shares (12.25%), a sale of 1,32,03,773 shares representing 46% of the company's equity. The transfer was carried out as an inter-se transfer under a SEBI exemption letter (WTM/AB/CFD/04/2025-26) citing Section 11(1) and 11(2)(h) of the SEBI Act read with Regulation 11(5) of SAST Regulations 2011, meaning shares were likely moved within the promoter group rather than sold in the open market. The company's total equity share capital remains unchanged at Rs. 5,74,07,776 (2,87,03,853 shares of Rs. 2 each).
Although the headline number is large, this is an inter-se transfer within the promoter family, so there is no open-market selling pressure and the overall promoter group holding may remain similar. Investors should watch for any follow-up disclosure identifying the transferee to confirm total promoter ownership is unchanged.