Disclosure u/r 29(2) of SEBI(SAST) REG 2011, received from Mr. Mahesh Chand Mittal
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Awaiting price reaction for this filing.
Mr. Mahesh Chand Mittal, a Promoter of Space Incubatrics Technologies Ltd, sold 18,62,066 equity shares (5.38% of paid-up capital) on August 12, 2025, through the open market at just Rs. 2 per share — far below the face value of Rs. 10. After this sale, his individual holding drops to zero, while the promoter group's combined holding falls from 20.10% (69,58,060 shares) to 14.72% (50,95,994 shares). The company's total equity share capital remains unchanged at 3,46,09,176 shares worth Rs. 34.60 crore. The total deal value is roughly Rs. 37.24 lakh, which is very small for a 5% stake sale and suggests a distressed or off-market negotiated transaction priced unusually low.
This is a significant negative signal — the promoter has fully exited his personal holding and the promoter group has lost over a quarter of its combined stake at a deeply discounted price, indicating weak promoter confidence. Retail shareholders should be cautious as reduced promoter skin-in-the-game (now just 14.72%) can weigh on sentiment and the stock price.