The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Patel Saurabhkumar R
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Promoter Patel Saurabhkumar R has disclosed a sale of 1,32,344 equity shares (1.32% of paid-up capital) of Umiya Tubes Ltd through open market transactions on 18 March 2025. His holding in the company has dropped from 1,81,166 shares (1.81%) to 48,822 shares (0.48%) post the sale. The disclosure was filed under SEBI's Takeover Regulations and submitted to BSE, where the company is listed. The equity share capital of the company remains unchanged at 1,00,06,667 shares of Re. 10 each.
This is a significant reduction by a promoter, who trimmed his stake by nearly 73% of his previous holding. Such open-market selling by a promoter can be viewed negatively by retail investors and may put short-term pressure on the stock price.