Deep Health AI sells 9.6 million Exxaro Tiles shares, reducing stake to 3.83%

What the disclosure reveals

On 25 June 2026, Exxaro Tiles Ltd (BSE: 543327) received a filing under Regulation 29(2) of the SEBI Substantial Acquisition of Shares & Takeovers (SAST) Regulations, 2011. The filing, submitted by Deep Health AI India Ltd (formerly Deep Diamond India Ltd), informs the exchanges that the shareholder has disposed of a sizable block of Exxaro Tiles equity shares.

Deep Health AI sold 9,595,959 shares, reducing its holding to 3.83% of Exxaro Tiles’ total equity.

The disclosure confirms that the sale was carried out through the stock‑exchange mechanism, i.e., an open‑market transaction, over a two‑day window (22‑06‑2026 to 23‑06‑2026). The filing does not indicate any further acquisition intent or any other corporate action beyond the share disposal.

Details of the share sale

• Number of shares sold: 9,595,959 equity shares, each with a face value of Rs 1.
• Percentage of equity sold: Approximately 2.14% of Exxaro Tiles’ equity share capital.
• Mode of acquisition: Open‑market purchase on the BSE and NSE platforms.
• Transaction dates: 22 June 2026 to 23 June 2026.
• Pre‑sale holding: 2,67,42,761 shares (5.98% of total equity).
• Post‑sale holding: 1,71,46,202 shares (3.83% of total equity).
• Total issued and paid‑up equity share capital of Exxaro Tiles: Rs 44,74,10,700 both before and after the transaction, indicating no change in the capital base.

The filing also records that there were no encumbrances, pledges, or other voting rights attached to the shares before or after the sale, and no warrants, convertible securities, or other instruments were involved.

Regulatory context – SEBI Regulation 29(2)

Regulation 29(2) of the SEBI SAST Regulations mandates that any shareholder acquiring or disposing of shares that result in a change of 1% or more in the voting power of a listed entity must disclose the transaction to the stock exchanges within a prescribed time‑frame. The purpose is to ensure transparency for investors and to maintain an up‑to‑date view of the shareholding pattern of listed companies.

Deep Health AI’s filing complies with these requirements. The disclosure includes:

• Identification of the target company (Exxaro Tiles Ltd).
• Identification of the acquirer/seller (Deep Health AI India Ltd).
• Detailed breakdown of shareholding before and after the transaction.
• Mode of acquisition (open market) and dates of execution.
• Confirmation that the transaction does not involve any related party or promoter group.

The filing was addressed to the compliance officers of Exxaro Tiles Ltd, the Bombay Stock Exchange, and the National Stock Exchange, as per the standard format prescribed by SEBI.

Key facts at a glance

Why this matters for investors

The disclosure provides a transparent view of a material change in the shareholding pattern of Exxaro Tiles Ltd. While a 2.14% reduction in equity does not, by itself, alter control dynamics, it does signal a shift in the influence of Deep Health AI within the company. The remaining 3.83% stake places the seller among the larger non‑promoter shareholders, which could affect voting outcomes on matters that require a simple majority.

For existing shareholders, the open‑market nature of the sale suggests that the shares were absorbed by the market without a premium or discount, implying no immediate valuation impact. However, the reduction in a sizable block may improve the free‑float, potentially enhancing liquidity.

Regulatory compliance under SEBI’s SAST framework reassures investors that the transaction was disclosed promptly and in full, maintaining market integrity. No further corporate actions, such as a tender offer or a change in control, were indicated in the filing.

Conclusion

Deep Health AI India Ltd disclosed the sale of 9,595,959 Exxaro Tiles Ltd equity shares on 22‑23 June 2026, reducing its holding to 1,71,46,202 shares (3.83% of total equity). The transaction was executed via open‑market mechanisms and reported in accordance with SEBI Regulation 29(2). While the share‑holding change is material, the filing does not hint at any subsequent strategic moves, leaving the current shareholding structure of Exxaro Tiles Ltd largely unchanged apart from the reduced stake of Deep Health AI.