The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Suman Mittal
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Awaiting price reaction for this filing.
Mrs. Suman Mittal, part of the promoter group of Space Incubatrics Technologies Ltd, sold 37,61,924 equity shares (10.87% of paid-up capital) at Rs. 2.10 per share through the open market on September 5, 2025. After the sale, her individual holding in the company stands at NIL, while the combined promoter group holding dropped from 12.84% to just 1.96% (6,80,816 shares). The total equity share capital of the company remains unchanged at Rs. 34.6 crore divided into 3.46 crore shares of Rs. 10 each. The transaction was disclosed to BSE under SEBI's takeover regulations on September 6, 2025.
This is a significant promoter exit — the promoter group has shed the vast majority of its stake, leaving very thin promoter skin in the game. Retail investors may view this as a negative signal on confidence, especially given the low sale price of Rs. 2.10 per share.