Dasharath Patel, a promoter of Shilp Gravures Limited, has divested his entire 5.42% stake in the company through an off-market transaction on June 10, 2025. The sale, involving 333,228 equity shares, was executed pursuant to a Share Purchase Agreement (SPA) dated December 12, 2024. This agreement was made between M/s. Akiyam Sampati Management LLP and the Promoters of Shilp Gravures Limited. The disclosure of this transaction was made to BSE Limited on June 11, 2025, from Tempa, Florida, U.S.A., in accordance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
| Particulars | Details |
|---|---|
| Name of Seller | Dasharath Patel |
| Seller Category | Promoter / Promoter Group |
| Target Company | Shilp Gravures Limited |
| Stock Exchange Listing | BSE Limited |
| Date of Transaction (Sale) | June 10, 2025 |
| Transaction Type | Off-market Sale |
| Number of Shares Sold | 333,228 equity shares |
| Face Value per Share | Rs. 10/- |
| Percentage of Stake Sold | 5.42% of total share/voting capital |
| Seller's Holding Before Sale | 333,228 shares (5.42%) |
| Seller's Holding After Sale | 0 shares (0%) |
| Total Equity Share Capital of Shilp Gravures Ltd. (Pre & Post Sale) | 61,49,800 equity shares of Rs. 10/- each (Totaling Rs. 6,14,98,000) |
| Total Diluted Share/Voting Capital of Shilp Gravures Ltd. (Pre & Post Sale) | 61,49,800 equity shares (Totaling Rs. 6,14,98,000) |
| Governing Agreement | Share Purchase Agreement dated December 12, 2024 |
| Parties to the SPA | M/s. Akiyam Sampati Management LLP and Promoters of Shilp Gravures Limited |
| Regulatory Disclosure Reference | Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 |
| Date of Disclosure to Exchange | June 11, 2025 |
Transaction Breakdown and Regulatory Compliance
The off-market sale by Dasharath Patel, who resides at Hemaditya Vasant Vihar Society Part-2, Navrangpura, Ahmedabad, effectively brings his shareholding in Shilp Gravures Limited to zero. An off-market transaction is a trade that occurs outside the formal stock exchange mechanisms, directly between the buyer and seller, though it still requires reporting.
This divestment was disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation mandates timely disclosure by individuals or entities when their shareholding or voting rights in a listed company cross certain specified thresholds, either through acquisition or disposal. The prompt disclosure on June 11, 2025, for a transaction dated June 10, 2025, adheres to these regulatory requirements aimed at maintaining market transparency.
Details of the Share Purchase Agreement
The sale by Mr. Patel was not an isolated event but part of a pre-defined Share Purchase Agreement (SPA) concluded on December 12, 2024. The parties to this SPA were M/s. Akiyam Sampati Management LLP and the "Promoters of Shilp Gravures Limited." This suggests that M/s. Akiyam Sampati Management LLP is the acquirer of the shares sold by Mr. Patel. The involvement of "Promoters" (plural) in the SPA could indicate a broader understanding or agreement for stake sale by the promoter group, though this specific filing details only Mr. Patel's transaction.
Impact on Shareholding Structure
As a result of this transaction, Dasharath Patel no longer holds any shares in Shilp Gravures Limited. Consequently, the overall promoter group's holding in the company has decreased by 5.42%. The total issued and paid-up equity share capital of Shilp Gravures Limited remains unchanged at 61,49,800 equity shares of Rs. 10 each, as this was a secondary sale of existing shares and did not involve any new issuance of capital by the company.
Shilp Gravures Limited, the target company, has its corporate communications addressed to its Company Secretary at 778/6, Pramukh Industrial Estate, Sola - Santej Road, Village: Rakanpur, Tal: Kalol, Dist. Gandhinagar - 382721.
Context of Promoter Stake Sales
A sale of stake by a promoter can occur for various reasons, including personal financial planning, diversification of investments, funding other business ventures, or as part of a larger strategic realignment or change in control. While this specific disclosure does not state the reasons behind Mr. Patel's divestment, such transactions are significant events for a company and its stakeholders.
Investors often monitor promoter shareholding changes closely as they can sometimes be interpreted as signals regarding the promoter's outlook on the company's future performance or strategic direction. The execution of this sale under a prior SPA indicates a planned exit by Mr. Patel.
Further details regarding M/s. Akiyam Sampati Management LLP or the broader implications of the SPA for other promoters of Shilp Gravures Limited were not available in this specific disclosure. Market participants and shareholders will likely await any further communications from the company or other involved parties to gain a more comprehensive understanding of this development and its potential impact on Shilp Gravures Limited.
