Promoter Rajasvee Sagar Shah has disposed of her entire holding in Hipolin , selling 293,560 equity shares through the open market on August 20, 2026.

The transaction represents a 9.38% reduction in the promoter's stake relative to the company's total voting capital. Following the sale, Shah's holding in the Ahmedabad-based engineering firm stands at zero shares.

Transaction Details

The disposal was executed in the open market, reducing the promoter's voting rights from 9.38% to nil. The company's total equity share capital remained unchanged at 3,131,300 equity shares with a face value of ₹10 each.

Regulatory Disclosure

Hipolin Limited filed the disclosure with the Bombay Stock Exchange under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was submitted by Director Daxesh B. Shah on September 1, 2026.

The disclosure confirms that the acquirer belongs to the promoter group and lists the Bombay Stock Exchange as the listing venue. No encumbrances or convertible securities were involved in the transaction.

Hipolin has clarified recent changes to its board of directors following regulatory queries from the Bombay Stock Exchange. The company confirmed the resignation of its managing director and the passing of an independent director.

Board Changes

Hipolin stated that Mr. Prafulla Gattani resigned as managing director with immediate effect on August 14, 2026. In his resignation letter, Gattani cited "pre-occupation" as the reason for stepping down. The company emphasized that there are no other reasons for his departure beyond what is stated in the official letter.

The company also confirmed the demise of Mr. Umeshchandra P Mehta, who served as an independent director. Mehta passed away on July 31, 2026, at the age of 73. Hipolin received intimation of his death on August 14, 2026, and promptly informed the exchange.

Regulatory Disclosure

The clarification was issued under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Hipolin submitted the details to address a query received from BSE on August 19, 2026, regarding an announcement made on August 14, 2026.

Daxesh B. Shah, a director at Hipolin, signed the disclosure letter dated August 25, 2026. The company noted that neither director held positions in other listed entities.