Space Incubatrics Technologies Limited, a company listed on the Bombay Stock Exchange (BSE), has reported a significant change in its promoter shareholding. On September 5, 2025, two promoter entities executed substantial sales of their equity shares in the open market.

Major Stake Sale

Mrs. Suman Mittal, a key promoter of the company, sold 37,61,924 equity shares, representing a 10.87% stake in the company. The shares were sold at a price of ₹2.10 per share. Concurrently, another promoter entity, M/s Mahesh Chand Mittal HUF, divested 6,80,724 equity shares, accounting for a 1.96% stake, at the same price per share.

Transaction Details

The combined transaction involved the sale of 44,42,648 shares, which constitutes 12.83% of Space Incubatrics Technologies' paid-up equity share capital. The total proceeds from this sale amounted to approximately ₹8.75 crore.

Impact on Shareholding

Following these transactions:

• Mrs. Suman Mittal's individual holding in the company has been reduced to nil.
• M/s Mahesh Chand Mittal HUF now retains a minimal stake of 92 shares in the company.

Company's Capital Structure

Space Incubatrics Technologies Limited has a total paid-up equity share capital of ₹34.61 crore, consisting of 3,46,09,176 fully paid-up equity shares with a face value of ₹10 each.

Regulatory Compliance

In compliance with regulatory requirements, the company has made the necessary disclosures to the BSE under various SEBI regulations, including the Prohibition of Insider Trading Regulations and the Substantial Acquisition of Shares and Takeovers Regulations.

Recent Corporate Events

Space Incubatrics Technologies Limited recently held its 9th Annual General Meeting (AGM) on September 6, 2025. The AGM, chaired by Mr. Nishant Mittal, the Chairman and Managing Director, addressed several key agenda items, including the adoption of financial statements and re-appointment of directors.

The substantial stake sale by promoters, coupled with the recent AGM, marks a period of significant corporate activity for Space Incubatrics Technologies Limited. Investors and market observers will likely be watching closely for any potential impacts on the company's strategy and performance in the coming months.

Space Incubatrics Technologies Limited (SITL) announced that its promoter, Mahesh Chand Mittal, has sold a significant portion of his stake in the company. The transaction involved the sale of 18,62,066 equity shares, representing 5.38% of the company's paid-up share capital.

Transaction Details

The shares were sold at Rs 2.00 per share through open market transactions on the BSE, generating proceeds of Rs 37.24 lakh for Mittal. Following the sale, Mittal's individual holding in the company has been reduced to nil.

Impact on Promoter Holding

The combined holding of Mittal and persons acting in concert (PAC) has decreased from 20.10% to 14.72% as a result of this transaction. This significant reduction in promoter stake could potentially impact the company's ownership structure and decision-making processes.

Company Background

Space Incubatrics Technologies Limited, headquartered in Pawan Puri, Muradnagar, Ghaziabad, was initially incorporated to develop data communications services, incubation facilities, and value-added services in app development. However, the company has recently expressed intentions to diversify into the textile sector and trading activities across various goods.

Financial Position

As of March 31, SITL reported a total equity share capital of Rs 34.61 crore, consisting of 3,46,09,176 fully paid-up equity shares with a face value of Rs 10 each. The company's financial performance for the year ended March 31 showed:

Management Changes and Future Plans

The company's 9th Annual General Meeting is scheduled for September 6, where several important resolutions will be considered. These include:

1. Potential sale of company property to Managing Director Nishant Mittal or Suman Mittal, wife of Mahesh Chand Mittal
2. Sale of motor vehicles to Mahesh Chand Mittal or Suman Mittal
3. Approval for material related party transactions up to Rs 10 crore
4. Authorization to make investments, give loans, and provide guarantees exceeding limits prescribed in Section 186 of the Companies Act, 2013

These proposed actions suggest that SITL may be undergoing significant restructuring and strategic shifts in its operations and asset management.

Investors and stakeholders will be closely watching how these changes impact the company's future performance and direction, particularly in light of its recent financial challenges and the promoter's substantial stake reduction.