Sri Lotus Developers and Realty promoters to sell 2.38 cr shares via OFS
SEBI is in focus in a promoter activity development with November 3-4 in focus.
· Economic Times Markets
In a significant move to adhere to Sebi's minimum public shareholding regulations, Sri Lotus Developers and Realty Ltd announced that promoter Anand Kamalnayan Pandit plans to sell 2.38 crore shares. This transaction is scheduled for November 3-4, with the shares priced at Rs 240 each, despite the company's current share price of Rs 245.90. Presently, promoters own 79.87 percent of the company.
Key facts
- Dates in focus
- November 3-4
The analysis
SEBI reported Rs 240 and Rs 245.90, with movement of 79.87% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Why it matters
- Promoters buy and sell with more information than anyone; the direction of their conviction is a signal in itself.
- With SEBI involved, this carries a regulatory dimension that can outlast the immediate market reaction.
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