The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Bhupendra G Sanghavi & Others
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Bhupendra G. Sanghavi and Persons Acting in Concert (PACs) — who are NOT part of the promoter/promoter group — disclosed a decrease in their shareholding in Sunflag Iron & Steel. Before the transaction (as of 20/10/2016), they held 2,13,20,273 shares representing 11.8302% of the company's total share capital. Between 20/10/2016 and 04/05/2026, they acquired 51,34,823 shares (2.8492%) via open market. After the transaction, their holding stood at 1,61,85,450 shares representing 8.9810% of the company. The acquirers have reduced their stake by a net 2.8492 percentage points over this period. The company has a total share capital of Rs. 180,21,94,480 consisting of 18,02,19,448 equity shares of Rs. 10 each.
Non-promoter shareholders (Bhupendra G. Sanghavi group) have reduced their stake by approximately 2.85%, indicating selling pressure in the open market. This net disposal could signal reduced confidence or portfolio rebalancing by a significant shareholder, which may have a mildly negative sentiment impact on the stock.