Yogen Khosla, a promoter of Capital Trust Limited, has sold 89,308 equity shares, constituting 0.52% of the company's total equity, through a market sale on June 09, 2025. Following this transaction, Mr. Khosla's shareholding in the company has decreased from 32.46% to 31.93%. The disclosure regarding this disposal of shares was made to the stock exchanges on June 11, 2025, in compliance with SEBI regulations.
| Particulars | Details |
|---|---|
| Company | Capital Trust Limited |
| Name of Seller | Yogen Khosla |
| Seller Category | Promoter |
| Date of Sale | June 09, 2025 |
| Mode of Sale | Market Sale |
| Number of Equity Shares Sold | 89,308 |
| Percentage of Equity Sold | 0.52% |
| Shares Held Before Sale (Number) | 5,520,777 |
| Shares Held Before Sale (%) | 32.46% |
| Shares Held After Sale (Number) | 5,431,469 |
| Shares Held After Sale (%) | 31.93% |
| Total Equity Share Capital of Capital Trust Ltd. | Rs. 170,097,020 (17,009,702 shares of Rs. 10 each) |
| Stock Exchanges Notified | BSE Limited, National Stock Exchange of India Limited |
| Disclosure Under Regulation | 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 |
| Date of Disclosure to Exchanges | June 11, 2025 |
Detailed Analysis of the Transaction
The recent share sale by Yogen Khosla, a key promoter of Capital Trust Limited, involves a modest reduction in his stake in the company. This transaction was executed on the open market, indicating a standard sale process.
Impact on Promoter Shareholding
Prior to this disposal, Mr. Khosla held 5,520,777 equity shares, representing 32.46% of Capital Trust's total paid-up equity capital. After selling 89,308 shares, his holding now stands at 5,431,469 shares, or 31.93% of the company's equity. While this sale reduces his individual holding, he remains a significant shareholder and part of the promoter group. The overall promoter group holding and any changes thereof would require further disclosures if applicable.
Transactions involving promoters are closely watched by the investment community as they can sometimes indicate the promoter's outlook on the company's future prospects or their personal financial planning. A sale of 0.52% is relatively small and may not necessarily signal a major shift in promoter confidence, but it forms part of the ongoing shareholding pattern disclosures that investors track.
Regulatory Framework: SEBI SAST Regulations
This disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, often referred to as the SAST Regulations. These regulations are crucial for maintaining transparency in the Indian stock market, particularly concerning changes in shareholding by significant shareholders, promoters, and persons acting in concert (PACs).
Regulation 29(2) mandates disclosure by any person, who together with PACs, holds shares or voting rights aggregating to 5% or more of the company, if there is any change in their shareholding or voting rights, even by a single share. If the change exceeds 2% of the total shareholding or voting rights in the company, a more detailed disclosure under Regulation 29(1) might also be triggered. In this instance, Mr. Khosla's holding was well above the 5% threshold, and the sale of 0.52% necessitated this disclosure. The intimation to the stock exchanges (BSE and NSE) and the target company (Capital Trust Limited) must be made within two working days of the transaction.
The purpose of these regulations is to ensure that all investors have access to timely and adequate information about significant shareholding changes, which could influence investment decisions and market stability. It prevents information asymmetry and promotes fair market practices.
Capital Trust Limited's Equity Structure
According to the disclosure, Capital Trust Limited's total equity share capital stands at Rs. 170,097,020. This is comprised of 17,009,702 equity shares, each having a face value of Rs. 10. The disclosure also notes that the percentages for total share/voting capital and total diluted share/voting capital are the same (32.46% before and 31.93% after for Mr. Khosla's holding). This suggests that, for the purpose of this calculation, there are no outstanding convertible securities or warrants that would alter the diluted share count significantly, or they are already accounted for. The footnote in the filing clarifies that diluted share/voting capital considers the full conversion of outstanding convertible securities/warrants.
Significance for Investors
Promoter transactions are a key piece of information for investors. While a small stake sale might be for personal reasons such as portfolio diversification, liquidity needs, or tax planning, larger or frequent sales can sometimes raise concerns. Investors typically analyze the quantum of shares sold, the frequency of such sales, and the prevailing market conditions and company performance to draw informed conclusions.
In this case, the sale by Mr. Yogen Khosla represents a 0.52% dilution of his stake. The timely disclosure ensures that this information is available to the public, allowing market participants to factor it into their assessment of Capital Trust Limited. The company is listed on both major Indian stock exchanges, BSE Limited and the National Stock Exchange of India Limited, ensuring broad dissemination of such regulatory filings.
The adherence to SEBI's SAST regulations in this matter underscores the importance of corporate governance and transparency in India's financial markets. Such disclosures help in maintaining investor confidence and ensuring a level playing field for all market participants.
