The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for New Vision Group Holding Pvt Ltd & Others
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On the reaction day the stock moved 0.4 pts more than Nifty Microcap 250 and 0.5 pts more than its Other Food Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Yasmin Abdullah Fazalbhoy (jointly with Abdullah Yousufali Fazalbhoy), a member of the promoter group of Kore Foods Limited (BSE: 500458), sold her entire holding of 25,31,023 equity shares, equal to 9.87% of the company's share capital. The transaction was executed on 25 April 2025 through a Share Purchase Agreement. Following this disposal, her stake has dropped from 9.87% to 0%. As a result, the total promoter and promoter group holding in the company fell sharply from 17.28% (44,32,415 shares) to 7.41% (19,01,392 shares). The filing was submitted by New Vision Group Holding Pvt Ltd, the main promoter entity. The disclosure also mentions 9,00,000 shares held by Polaroid Corporation (promoter group) under US bankruptcy proceedings with no recoverable value.
This is a significant promoter group exit — nearly half of the promoter group's combined stake has been sold, reducing their holding from 17.28% to 7.41%. Such a large promoter sell-off may signal a shift in control or strategic direction and could weigh on stock sentiment, though it also reduces promoter overhang going forward.