Walking Tree Technologies Private Limited has disclosed the acquisition of 1,76,000 equity shares of Octaware Technologies Limited under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction was completed on January 12, 2026, through an off-market transfer from Mr. Shah Nawaz Aijazuddin Shaikh.

Shareholding Changes

The acquisition has significantly strengthened Walking Tree Technologies' position in Octaware Technologies. The company's direct shareholding increased from 16,60,700 shares (46.25%) to 18,36,700 shares (51.15%), making it the majority stakeholder.

Transaction Details

The acquisition was executed through off-market transfer, a common method for substantial shareholding changes between identified parties. Walking Tree Technologies belongs to the promoter group of Octaware Technologies, and this acquisition further consolidates the promoter group's control over the company.

Persons Acting in Concert

Walking Tree Technologies operates alongside persons acting in concert (PACs), including Pradeep Lavania and Alok Ranjan as directors, and Mohammed Aslam Qudratullah Khan who holds 7,17,224 shares (19.98%). The PACs' individual holdings remained unchanged during this transaction, with the entire acquisition attributed to Walking Tree Technologies directly.

Company Structure

Octaware Technologies Limited maintains its equity share capital at ₹3,59,05,700, comprising 35,90,570 equity shares of ₹10 each. The company's shares are listed on BSE Limited under the symbol OCTAWARE with scrip code 540416. The total diluted share capital remains unchanged post-acquisition.

The disclosure was signed by Pradeep Lavania, Director of Walking Tree Technologies Private Limited (DIN: 03556845), and submitted to BSE Limited on January 13, 2026, in compliance with regulatory requirements.

Shahnawaz Aijazuddin Shaikh has completed a significant divestment in Octaware Technologies Limited, selling 1,76,000 equity shares through an off-market transaction. The sale, executed on January 12, 2026, represents a 4.90% reduction in his stake in the Mumbai-based technology company.

Transaction Details

The off-market transaction has resulted in a substantial change in Shaikh's shareholding pattern. His total holding has decreased from 3,63,348 shares to 1,87,348 shares, marking a significant reduction in his investment position.

Regulatory Compliance

The disclosure was submitted to BSE Limited and the Board of Directors of Octaware Technologies Limited on January 13, 2026, in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Shaikh confirmed that he does not belong to the promoter or promoter group of the company.

Company Structure

Octaware Technologies Limited maintains its equity share capital structure unchanged following this transaction. The company's total equity share capital remains at ₹3.59 crores, divided into 35,90,570 equity shares of ₹10 each. The company's shares are listed on BSE Limited under script code 540416.

Shareholding Impact

The transaction represents a significant reduction in Shaikh's stake, bringing his holding below the 10% threshold. His current 5.22% shareholding positions him as a substantial but reduced stakeholder in the technology company. The off-market nature of the transaction suggests a private arrangement between parties, avoiding market price fluctuations during the sale process.