Sical Logistics Limited has informed the Exchange regarding 'Disclosure Under Regulation 30 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations 2015 Read With Securities And Exchange Board Of India Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 with respect to achieving the compliance with the minimum public shareholding requirement as mandated under Rule 19A of Securities Contracts (Regulations) Rules, 1957 read with Regulation 38 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Awaiting price reaction for this filing.
Sical Logistics has informed the exchanges that its promoter, Pristine Malwa Logistics Park Private Limited, will sell 80,000 equity shares (0.12% of total paid-up capital) in the open market between June 23 and June 30, 2025. The purpose is to meet the mandatory 25% minimum public shareholding rule under Rule 19A of the Securities Contracts (Regulation) Rules, 1957. The promoter currently holds 95% of the company, having acquired the stake through an NCLT-approved IBC resolution plan in February 2023. So far, the company has been meeting the interim 10% public shareholding threshold that applies during the post-resolution compliance period. The promoter has also given an undertaking that it will not buy any shares in the open market during the sale window to avoid manipulation concerns.
The sale is very small in size (0.12% of equity) and is purely a regulatory compliance action, so any direct price impact should be minimal. It is a routine post-IBC compliance step and signals the company moving from 10% toward the 25% public float requirement, but does not materially change the promoter's control of the company.