Seshasayee Paper & Boards witnessed a significant reduction in institutional holding as Atyant Capital India Fund 1 disposed of 13,03,649 equity shares representing 2.067% of the company's voting capital. The sale was executed through open market transactions between October 5 and October 21, 2026.

Following this disposal, Atyant Capital’s stake in the paper and boards manufacturer dropped to 3.297%, down from its previous holding of 5.364%. The fund held 33,83,140 shares prior to the transaction. The disclosure was filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction details and timeline

The divestment occurred over a span of three weeks, with varying volumes traded on specific dates. The total equity share capital of the target company remained unchanged at ₹1,26,136,280.00 before and after the sale, indicating no dilution or new issuance during this period.

Holding structure post-disposal

The filing confirms that Atyant Capital did not hold any shares under encumbrance (pledge, lien, or non-disposal undertaking) or any warrants/convertible securities entitling it to additional voting rights. The reduction is strictly limited to equity shares carrying voting rights.

Key holding metrics

• Pre-transaction holding: 33,83,140 shares (5.364%)
• Shares sold: 13,03,649 shares (2.067%)
• Post-transaction holding: 20,79,491 shares (3.297%)
• Mode of sale: Open market
• Encumbered shares: NIL

What the numbers show

The data reveals a concentrated selling pattern, with nearly 39% of the total divested volume (5,05,670 shares) occurring on a single day, October 12, 2026. This suggests a deliberate liquidity event or portfolio rebalancing rather than gradual accumulation-based selling. Additionally, the fund’s stake fell below the 5% substantial acquisition threshold, removing it from the mandatory continuous reporting category for substantial acquisitions, although it remains a notable institutional investor.

Seshasayee Paper & Boards shareholders approved the appointment of R.J. Ramesh as a nominee director not liable to retire by rotation. The ordinary resolution passed on September 4, 2026, with overwhelming support across all investor categories.

The postal ballot process was conducted through remote e-voting facilitated by NSDL. Voting commenced on August 5, 2026, at 9:00 am and concluded on September 3, 2026, at 5:00 pm. The company dispatched the ballot notice to shareholders registered as of July 31, 2026.

Voting Results Breakdown

A total of 31,338,911 votes were polled out of 63,068,140 outstanding shares, representing a participation rate of 49.69%. The resolution received 99.95% affirmative votes, with only 15,255 votes cast against it.

Promoter shareholders held 27,311,443 shares and voted unanimously in favour of the appointment. Institutional public shareholders participated at a lower rate of 4.07%, while non-institutional public shareholders showed higher engagement at 17.81%.

Director Profile

R.J. Ramesh (DIN: 11821767) is 58 years old and holds qualifications in B.E. and MBA. He currently serves as Deputy General Manager (IA/ISO/PP) at The Tamilnadu Industrial Investment Corporation Limited, a government undertaking. The disclosure confirms he is not related to any other director on the board under Section 2(77) of the Companies Act, 2013, nor is he debarred from holding office by SEBI or any other authority.

Scrutinizer Report

K. Sankara Subramanian, Practicing Company Secretary, served as the scrutinizer for the e-voting process. The report confirmed compliance with Section 108 and Section 110 of the Companies Act, 2013, and SEBI Listing Regulations. No invalid votes were recorded during the process.

What the Numbers Show

The near-unanimous support (99.95%) indicates minimal dissent regarding the board composition change. Promoter group participation was absolute, casting all held shares in favour, which anchors the approval despite modest institutional voting turnout.