Shareholding8 Sept 2026, 03:28 pm
Sri Lotus Developers Promoter Sells 2% Stake to Meet Public Holding Norms
AI Summary
Sri Lotus Developers and Realty Ltd announced that promoter Mr. Anand Kamalnayan Pandit intends to sell up to 2.00% of the company's total equity share capital, amounting to 97,74,474 shares. This sale, to be conducted in the open market over seven trading days starting September 9, 2026, is aimed at complying with the minimum public shareholding requirements mandated by SEBI regulations. The promoter group's shareholding will reduce from 81.87% to 79.87% upon completion. Mr. Pandit has also undertaken not to buy shares during the sale period to facilitate compliance.
Key Highlights
- Promoter Mr. Anand Kamalnayan Pandit to sell up to 2% equity.
- Sale aims to meet minimum public shareholding requirements.
- Divestment to occur via open market route within seven trading days.
- Promoter group shareholding to decrease from 81.87% to 79.87%.
- Promoter undertakes not to buy shares during the sale period.
Price Impact
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