The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Jindal Worldwide Ltd
Awaiting price reaction for this filing.
Jindal Worldwide Limited, part of the promoter group of Kashyap Tele-Medicines Limited, sold 1,49,15,000 equity shares (31.25% of the paid-up share capital) of the company on May 20, 2025. The transaction was an off-market deal valued at Rs. 4.77 crore (Rs. 4,77,22,000). Before the sale, Jindal Worldwide held 31.25% of the company, and after the sale, their holding stands at NIL, representing a complete exit of this promoter group entity from Kashyap Tele-Medicines.
A complete exit by a promoter group entity — moving from 31.25% to zero — is typically a negative signal, suggesting the selling group may have lost confidence in the target company's prospects. Kashyap Tele-Medicines will effectively lose the Jindal group as its promoter, which may raise governance and future direction concerns for remaining shareholders.