Sical Logistics Limited has informed the Exchange regarding 'intention of its promoter to sell the equity shares in the open market to comply with the 25% minimum public sharehlding requirement under Rule 19A of Securities Contracts (Regulations) Rules, 1957, as amended'.
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Sical Logistics Limited's promoter, Pristine Malwa Logistics Park Private Limited, plans to sell 1,00,000 equity shares (0.15% of total paid-up capital) in the open market between September 24 and September 30, 2025. This sale is to comply with the mandatory 25% minimum public shareholding requirement under Rule 19A of the Securities Contracts (Regulations) Rules, 1957. The promoter currently holds 95% of the company, acquired in February 2023 after the NCLT approved a resolution plan under the Insolvency and Bankruptcy Code. Until now, the company has been maintaining only the 10% minimum public shareholding allowed under insolvency resolution norms. The promoter has also undertaken not to buy any shares during the sale period.
This is a very small sale (just 0.15%) and is a routine regulatory compliance action, not a strategic divestment. Shareholders should note that the promoter still holds about 95% of the company, so this sale will not meaningfully improve liquidity or change the ownership structure. The actual sale amount is too small to have any noticeable impact on the stock price.