NewsCorporate ActionsAlps Industries Promoter Group Reduces Stake: Padam Precision Sells 3.32% HoldingAlps Industries Promoter Group Reduces Stake: Padam Precision Sells 3.32% Holding
Padam Precision Dies & Components Pvt Ltd, a promoter group member of Alps Industries Limited, has sold 13,00,000 equity shares (3.32% stake) in the open market on December 22, 2023. The sale reduced their holding from 4.52% to 1.00%. The transaction was disclosed under SEBI Takeover Regulations, with Mr. Sandeep Agarwal as the authorized signatory. Alps Industries, listed on BSE and NSE, has a total equity share capital of 39,114,100 shares with a face value of Rs. 10 each.
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Alps Industries Limited , a company listed on both BSE and NSE, has reported a significant change in its shareholding structure. Padam Precision Dies & Components Pvt Ltd, a member of the promoter group, has divested a substantial portion of its stake in the company.
Key Details of the Transaction
| Detail | Value |
|---|---|
| Seller | Padam Precision Dies & Components Pvt Ltd (Promoter Group) |
| Shares Sold | 13,00,000 equity shares |
| Stake Reduction | 3.32% |
| Date of Transaction | December 22, 2023 |
| Mode of Sale | Open market transactions |
| Reason | Personal reasons |
Impact on Shareholding
| Holding | Percentage |
|---|---|
| Pre-Sale Holding | 4.52% |
| Post-Sale Holding | 1.00% |
Disclosure and Compliance
The transaction was duly reported under the Securities and Exchange Board of India (SEBI) Takeover Regulations. Mr. Sandeep Agarwal, serving as the authorized signatory, made the necessary disclosures on behalf of Padam Precision Dies & Components Pvt Ltd.
Company Overview
Alps Industries Limited has a total equity share capital comprising 39,114,100 shares, each with a face value of Rs. 10. The company maintains its presence on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) of India.
This development marks a significant reduction in the promoter group's stake in Alps Industries. The reasons behind the sale were cited as personal.
Historical Stock Returns for Alps Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.61% | +3.28% | -10.43% | -20.92% | -50.13% | +30.34% |
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