Space Incubatrics Technologies Limited , a company listed on the BSE, has recently undergone significant changes in its shareholding structure and approved several key resolutions at its Annual General Meeting (AGM). The company, which has a total equity share capital of Rs. 34.61 crore, saw major movements in its promoter holdings and passed important resolutions that could shape its future operations.

Promoter Stake Sale

Mahesh Chand Mittal HUF, a promoter entity, sold 680,724 equity shares, representing 1.96% of the company's paid-up equity share capital, at Rs. 2.10 per share on September 5, 2025. This transaction was conducted through an open market sale, resulting in Mahesh Chand Mittal HUF's individual holding in the company reducing to nil, while retaining 92 shares together with persons acting in concert.

In a separate transaction on the same day, Suman Mittal, another promoter, sold 3,761,924 equity shares, representing 10.87% of the paid-up equity share capital, also at Rs. 2.10 per share. Following this sale, Suman Mittal's individual holding in the company was reduced to nil, with 680,816 shares remaining with persons acting in concert, representing 1.96% of the total shareholding.

Annual General Meeting Resolutions

The company held its 9th Annual General Meeting on September 6, 2025, where several key resolutions were passed:

1. Adoption of Financial Statements: The audited standalone financial statements for the financial year ended March 31, 2025, along with the reports of the Board of Directors and Auditors, were adopted.

2. Re-appointment of Director: Mr. Nishant Mittal (DIN: 02766556) was re-appointed as a director, retiring by rotation.

3. Property Sale Approval: The sale of company property to Mr. Nishant Mittal, Managing Director, or Mrs. Suman Mittal was approved.

4. Motor Vehicle Sale Approval: The sale of company motor vehicles to Mr. Mahesh Chand Mittal, Director, or Mrs. Suman Mittal was approved.

5. Material Related Party Transaction: A resolution for approval of material related party transactions was passed.

6. Investment and Loan Limits: The company received approval to make investments, give loans, guarantees, and security in excess of the limits prescribed in Section 186 of the Companies Act, 2013.

7. Authorization under Section 180(1)(A): A special resolution authorizing certain actions under Section 180(1)(A) of the Companies Act, 2013, was passed.

Voting Results

The resolutions were passed with significant majority support. The adoption of financial statements and the authorization under Section 180(1)(A) received 98.99% votes in favor. The resolution for investments and loans in excess of prescribed limits garnered 98.92% support. However, the resolutions for property and motor vehicle sales to promoters saw relatively lower support, with 77.38% votes in favor and 22.62% against.

These developments indicate a shift in the promoter holding structure of Space Incubatrics Technologies Limited and suggest that the company is preparing for potential strategic moves in terms of asset sales and financial flexibility. The strong shareholder support for most resolutions demonstrates confidence in the company's direction, although the asset sale to promoters faced some opposition.

Space Incubatrics Technologies Limited witnessed a significant change in its shareholding pattern as promoter Suman Mittal offloaded a substantial portion of her stake in the company.

Key Details of the Transaction

• Shares Sold: 37,61,924 equity shares
• Stake Percentage: 10.87% of the company's paid-up equity share capital
• Sale Price: Rs. 2.10 per share
• Total Transaction Value: Approximately Rs. 7.90 crore
• Transaction Date: September 05, 2025
• Mode of Sale: Open market

Impact on Shareholding

• Individual Holding: Suman Mittal's individual holding in the company reduced to nil following the sale
• Combined Holding: The combined holding of Mittal with persons acting in concert decreased from 12.84% to 1.96%

Company Background

Space Incubatrics Technologies Limited maintains its total equity share capital at Rs. 34.61 crore, consisting of 3,46,09,176 fully paid-up equity shares of Rs. 10 each.

Regulatory Compliance

The company has duly filed the necessary disclosures under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, informing the Bombay Stock Exchange of this significant change in shareholding.

Recent Corporate Actions

The company recently held its 9th Annual General Meeting on September 6, 2025, where several resolutions were passed, including:

1. Adoption of audited standalone financial statements for the financial year ended March 31, 2025
2. Re-appointment of Mr. Nishant Mittal as a director
3. Approval for the sale of company property to Mr. Nishant Mittal or Mrs. Suman Mittal
4. Approval for the sale of company motor vehicles to Mr. Mahesh Chand Mittal or Mrs. Suman Mittal
5. Approval for material related party transactions
6. Authorization to make investments, give loans, guarantees, and security in excess of limits prescribed in Section 186 of the Companies Act, 2013
7. Authorization under Section 180(1)(A) of the Companies Act, 2013

These resolutions, particularly those related to the sale of company assets to promoter group members, may be seen in context with the recent share sale by Suman Mittal.

The substantial reduction in promoter holding could potentially impact the company's ownership structure and may be of interest to existing shareholders and potential investors alike.