The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Mahesh Chand Mittal HUF
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Mahesh Chand Mittal HUF, part of the promoter/promoter group of Space Incubatrics Technologies Ltd, sold 6,80,724 equity shares at Rs. 2.10 per share on September 5, 2025 through the open market. This represents 1.96% of the company's paid-up equity share capital. Before the sale, the HUF held 6,80,724 shares individually (1.96%), and after the transaction it holds zero shares individually and only 92 shares together with persons acting in concert (0.00%). This means the HUF has fully exited its stake in the company. The total equity share capital remains unchanged at Rs. 34.61 crore (3.46 crore shares of Rs. 10 each).
This is a negative signal for retail investors as a promoter-group entity has completely exited its position, though the overall stake being only ~2% limits the broader governance impact. The very low sale price (Rs. 2.10 vs Rs. 10 face value) and total promoter exit may further weaken investor confidence in the stock.