Jayantibhai Patel increases stake in Promact Plastics to 7.10%
Jayantibhai Somabhai Patel acquired 99,591 equity shares of Promact Plastics Limited on May 29, 2026, increasing his individual holding to 7.10%. The acquisition, made through the open market, adjusts the total promoter group holding to 40.30% following simultaneous sales by other group members.
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Jayantibhai Somabhai Patel has increased his shareholding in Promact Plastics Limited to 7.10% through an open market acquisition of 99,591 equity shares on May 29, 2026. The transaction adjusts the total promoter group holding to 40.30%, as other Persons Acting in Concert (PAC) reduced their stakes during the same period. The disclosure was filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Prior to the acquisition, Jayantibhai Somabhai Patel held 5.57% of the total paid-up equity share capital, amounting to 3,62,201 shares of Rs. 10 each. Following the purchase, his individual holding rose to 4,61,792 shares. The acquisition was part of a broader reshuffle within the promoter group, which saw Patel Sachin Narottambhai and Krishnaben Dharmendrabhai Patel exit the shareholding entirely by selling 75,000 and 32,500 shares respectively.
The total equity share capital of Promact Plastics Limited remains unchanged at Rs. 6,51,18,000, representing 65,11,800 fully paid-up equity shares of Rs. 10 each. The diluted share capital also remains constant at this level. The acquirer confirmed that the shares were purchased on the open market and that no encumbrance, warrants, or convertible securities were involved in the transaction.
The following table details the shareholding changes within the promoter group following the acquisition and sale of shares:
| Shareholder | Shares Before | Shares Acquired/(Sold) | Shares After | Holding % After |
|---|---|---|---|---|
| Jayantibhai Somabhai Patel | 3,62,201 | 99,591 | 4,61,792 | 7.10 |
| Jayantilal Somabhai Patel HUF | 3,56,837 | NIL | 3,56,837 | 5.48 |
| Payalben Jayantilal Patel | 3,70,834 | NIL | 3,70,834 | 5.69 |
| Patel Ankit Jayantibhai | 4,81,939 | NIL | 4,81,939 | 7.40 |
| Nikita Jayantilal Patel | 2,70,943 | NIL | 2,70,943 | 4.16 |
| Savitaben Jayantilal Patel | 2,65,749 | NIL | 2,65,749 | 4.08 |
| Patel Narottambhai Somabhai HUF | 1,89,720 | NIL | 1,89,720 | 2.91 |
| Patel Mital Sachinkumar | 1,61,188 | NIL | 1,61,188 | 2.48 |
| Patel Sachin Narottambhai | 75,000 | (75,000) | 0 | 0.00 |
| Patel Mittal D | 65,000 | NIL | 65,000 | 1.00 |
| Krishnaben Dharmendrabhai Patel | 32,500 | (32,500) | 0 | 0.00 |
| Total | 26,31,911 | (7,909) | 26,24,002 | 40.30 |
The filing confirms that all regulatory disclosure requirements have been met regarding the substantial acquisition of shares. The promoter group continues to hold a significant stake in the company, which is listed on BSE Limited.
Historical Stock Returns for Promact Plastics
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.99% | +3.31% | +0.44% | -17.14% | -17.06% | +110.72% |
Does Jayantibhai Somabhai Patel's increased stake signal a potential consolidation of control within the promoter group?
What are the strategic reasons behind the complete exit of Patel Sachin Narottambhai and Krishnaben Dharmendrabhai Patel?
Will the promoter group maintain the current 40.30% holding or pursue further open market acquisitions?
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