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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Awaiting price reaction for this filing.
Mahesh Chand Mittal, part of the promoter group of Space Incubatrics Technologies Ltd, sold 18,62,066 equity shares (5.38% of paid-up capital) at Rs. 2 per share on August 12, 2025 through the open market. After the sale, his individual holding is NIL, and the promoter group's combined holding with persons acting in concert fell from 20.10% to 14.72%. The transaction value works out to roughly Rs. 37.24 lakh. The disclosure was filed under SEBI Takeover Regulations to report the reduction in promoter shareholding.
This is a notable promoter exit that reduces the promoter group's stake to below 15%, which may weaken promoter control and could negatively affect investor sentiment given the very low sale price of Rs. 2 per share.