Pace E-Commerce Ventures Limited saw a reduction in the shareholding of its Managing Director, CFO, and promoter, Shaival Dharmendra Gandhi. The transaction, which took place on September 25, involved the sale of 2,30,400 equity shares in the open market.

Stake Reduction Details

Gandhi's shareholding in the company decreased from 54.83% to 53.81% following the transaction. Prior to the sale, he held 1,23,56,265 shares, which has now been reduced to 1,21,25,865 shares. The disposal represents approximately 1.02% of the company's total share capital.

Transaction Value

The total value of the disposed shares amounted to ₹52,39,296, based on the disclosure provided to the stock exchange.

Company Share Capital

Pace E-Commerce Ventures Limited has a total equity share capital of 2,25,33,510 shares, each with a face value of ₹10.

Regulatory Compliance

The company has duly informed the BSE Limited about this transaction, in compliance with the Securities and Exchange Board of India (SEBI) regulations for substantial acquisition of shares and takeovers. The disclosure was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Recent Corporate Actions

Pace E-Commerce Ventures Limited recently held its 10th Annual General Meeting (AGM) on September 27 through video conferencing. During this AGM, several resolutions were passed, including the approval for shifting the company's registered office from Maharashtra to Gujarat and alterations to the main object clause of the Memorandum of Association.

This share disposal by a key promoter may be of interest to investors and market analysts monitoring the company's ownership structure and insider transactions. The reasons behind the share sale were not disclosed in the regulatory filing.

Pace E-Commerce Ventures Limited , a company listed on the Bombay Stock Exchange (BSE), has reported a significant change in its promoter shareholding. Shaival Dharmendra Gandhi, the Managing Director and Chief Financial Officer of the company, has sold a portion of his equity stake in an open market transaction.

Transaction Details

Gandhi disposed of 217,200 equity shares of Pace E-Commerce Ventures Limited through an open market sale.

Impact on Shareholding

Following the sale, Gandhi's shareholding in the company has undergone a notable change:

Despite the reduction, Gandhi remains a significant shareholder in the company, retaining over 54% of the equity shares.

Regulatory Compliance

In compliance with the Securities and Exchange Board of India (SEBI) regulations, specifically those related to substantial acquisition of shares and takeovers, Pace E-Commerce Ventures Limited has made the mandatory disclosure.

Company Information

Pace E-Commerce Ventures Limited has a total equity share capital of 2,25,33,510 shares of Rs. 10 each.

This transaction highlights the importance of transparency in insider trading and adherence to regulatory requirements in the Indian stock market.