Aksara Commercial reduces stake in India Power Corporation
Aksara Commercial Private Limited reduced its stake in India Power Corporation Limited by selling 3,83,498 equity shares on the NSE between June 15 and June 16, 2026. The transactions, valued at ₹28,74,720, lowered the promoter group entity's holding to 6.17%. The disclosure was filed under SEBI PIT Regulations while the company remains under CIRP.
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Aksara Commercial Private Limited, a promoter group entity, has reduced its shareholding in India Power Corporation Limited by selling 3,83,498 equity shares on the National Stock Exchange of India Limited (NSE). The sales executed between June 15, 2026, and June 16, 2026, reduced the entity's stake to 6.17%. The total value for these transactions was reported at ₹28,74,720.
The disclosure was submitted by Sandip Kumar Agarwala, Director of Aksara Commercial Private Limited, on June 17, 2026. The filing was made in Form C pursuant to Regulation 7(2) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The compliance intimation was subsequently forwarded to the exchanges by Dhananjay Karmakar, Company Secretary & Compliance Officer, under the authority of the Insolvency Resolution Professional.
Shareholding Details
The following table outlines the changes in Aksara Commercial Private Limited's shareholding in India Power Corporation Limited:
| Category | Securities Held Prior | Securities Sold | Securities Held Post Sale | Sale Value | Transaction Date |
|---|---|---|---|---|---|
| Promoter Group | 6,04,48,957 (6.20%) | 3,83,498 | 6,00,65,459 (6.17%) | ₹28,74,720 | 15-06-2026 to 16-06-2026 |
Regulatory Context
India Power Corporation Limited is currently undergoing the Corporate Insolvency Resolution Process (CIRP) initiated by the Hon'ble National Company Law Tribunal (NCLT), Hyderabad Bench-1, via an order dated May 15, 2026. Consequently, the powers of the Board of Directors of the company stand suspended. The disclosure regarding the share sale was submitted to the National Stock Exchange of India Limited and the Metropolitan Stock Exchange of India Limited.
Historical Stock Returns for DPSC
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.78% | -1.81% | -23.31% | -24.23% | -44.40% | -52.20% |
How will the reduction in promoter shareholding impact the ongoing Corporate Insolvency Resolution Process (CIRP)?
What does this sale indicate about the promoter group's confidence in the company's future under insolvency proceedings?
Will the proceeds from the share sale be utilized to repay creditors or for other purposes?
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