The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Nikhil Kumar & Others
TDPOWERSYS · price
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Awaiting price reaction for this filing.
Nikhil Kumar, along with persons acting in concert (Aarya Sankaran Kumar, Sagir Mohib Khericha, Hitoshi Matsuo, and Saphire Finman Services LLP), sold 99 lakh equity shares of TD Power Systems Ltd on May 22, 2025, through the open market. This represents 6.34% of the company's paid-up capital. The largest seller was Nikhil Kumar himself (45 lakh shares, 2.88%), followed by Saphire Finman Services LLP (33 lakh, 2.11%) and Hitoshi Matsuo (21 lakh, 1.34%). Combined promoter group holding fell from 33.22% to 26.88%, a drop of 6.34 percentage points in a single day.
A 6.34% open-market sale by the promoter group in one day is significant and could pressure the stock price in the short term. Investors should monitor post-sale price action and any further disclosures, as promoter holdings are now well below the 50% mark at 26.88%.