The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Lalit Kumar Gupta & Others
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The promoter group of Source Industries (India) Ltd — comprising Lalit Kumar Gupta, Ritesh Kumar Gupta, Lakshmi Gupta, Akshay Kumar Gupta, and Adarsh Kumar Gupta — has disclosed a complete exit from the company under SEBI SAST Regulation 29(2). They collectively sold 14,86,210 equity shares (13.03% of the total share capital) through an off-market Share Purchase Agreement dated 25 July 2025. Before the transaction, the promoter group held 14,86,210 shares (13.03%), and after the disposal their combined holding stands at Nil (0%). The shares were transferred off-market, indicating a negotiated deal with a specific buyer rather than an open-market sale. The total equity share capital of the company remains 1,14,03,110 shares of Rs. 10 each.
A complete exit by the entire promoter group is a significant event that may be viewed negatively by retail investors as it signals the promoters are leaving the company entirely. However, since the sale was off-market via SPA, a new buyer (likely a new promoter or strategic investor) has taken over the stake, which could mean a change in control or restructuring. Shareholders should watch for further disclosures from the incoming acquirer, as a 13% stake purchase could trigger an open offer obligation under takeover regulations.