Clarification received from Mr. Anish Anil Mehta, Promoter of the Company regarding disposal of shares is enclosed herewith.
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Mr. Anish Anil Mehta, Promoter and Managing Director of Shine Fashions (India) Ltd, has clarified regarding the recent disposal of shares by him and/or promoter group members. He confirmed that the funds raised through this share disposal will be re-introduced back into the company to meet urgent business needs. This is a follow-up communication to the exchange regarding an earlier intimation of share disposal.
The clarification suggests the promoter is selling shares personally but channeling proceeds back into the company, which may signal confidence in the business despite the divestment. Shareholders should watch for any further updates on the actual quantum of shares sold and the corresponding capital infusion.