We, Harmony Capital Services Limited submit herewith Disclosures under Regulation 29 (2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
Awaiting price reaction for this filing.
On 4 November 2025, promoter Anish Sharma sold 20,41,760 equity shares (68.03% of total share capital) of Harmony Capital Services Ltd through off-market transactions at Rs. 5 per share, reducing his holding from 73.04% (21,91,760 shares) to just 4.99% (1,50,000 shares). The shares were acquired by four non-promoter LLPs: Sixth Venture Advisors LLP (7,00,000 shares, 23.33%), Ascent Edge Advisors LLP (3,50,000 shares, 11.66%), Drishya Advisory LLP (3,50,000 shares, 11.66%), and Nyra Business Development LLP (3,50,000 shares, 11.66%). The disclosures were filed under Regulation 29(1) and 29(2) of SEBI (SAST) Regulations, 2011. This effectively represents a near-complete promoter exit, with the company now in non-promoter control.
This is a major change-of-control event for shareholders. The promoter has reduced his stake to below 5%, losing control of the company. The low transaction price of Rs. 5 per share (vs. face value of Rs. 10) may signal valuation concerns. The acquiring LLPs could be acting in concert, and their combined holding may trigger an open offer obligation under SEBI takeover rules, which could affect stock price and liquidity.