The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Raj Kumar Sethia & Aishwarya Sethia
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On the reaction day the stock moved 3.6 pts more than Nifty Microcap 250 and 4.1 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Promoters Raj Kumar Sethia and Aishwarya Sethia sold their entire shareholding of 1,58,138 shares (6.75%) in High Street Filatex Limited (BSE Scrip: 531301) through an off-market sale via a Share Purchase Agreement dated January 24, 2025. The actual sales were executed on June 4 and June 5, 2025. Before the disposal, the promoters held 1,58,143 shares (6.75%); after the sale, they hold just 5 shares, effectively a near-complete exit from the company. The target company's total equity share capital remains 23,43,430 shares of Rs. 10 face value. This is an off-market transaction, not an open-market sale, meaning shares were transferred directly to a specific buyer under the SPA.
This signals a near-total promoter exit from High Street Filatex, which may concern retail investors about promoter confidence and future direction of the company. However, because it was structured as an off-market SPA transfer rather than a market sale, it likely represents a planned change in ownership control rather than a distress-driven exit.