The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Mahesh Chand Mittal
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Mahesh Chand Mittal, part of the promoter group of Space Incubatrics Technologies Ltd, sold 10,00,000 equity shares (2.89% of paid-up capital) on July 25, 2025 through the open market at Rs. 2 per share. After the sale, his individual holding fell from 8.27% (28,62,066 shares) to 5.38% (18,62,066 shares). Combined promoter group (PAC) holding dropped from 22.99% to 20.10% (69,58,060 shares). The company has a total of 3.46 crore equity shares of face value Rs. 10 each. The very low sale price (Rs. 2 vs Rs. 10 face value) suggests this is a micro-cap/penny stock with low liquidity.
This is a meaningful promoter stake reduction of nearly 3% which may be viewed negatively by retail investors, as promoter selling can signal lack of confidence. However, the promoter group still holds over 20% in the company. The extremely low share price and small deal size mean limited impact on most retail shareholders' portfolios.