Mayur Leather Products Ltd promoter sells 600,000 shares, reducing stake to 1.78%

What Mayur Leather Products Ltd disclosed

On 15 June 2026, Mayur Leather Products Ltd (BSE: 531680) filed a disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The filing records the sale of 600,000 equity shares by the company’s promoter and Chairperson, Arnita Poddar, along with her disclosed persons acting in concert (PAC) – Rajendra Kumar Poddar and Akhilesh Poddar. The transaction was executed on 12 June 2026 and is reported as an off‑market sale.

"Please find enclosed herewith the disclosure under Regulation 29(2) … w.r.t. Sale of 6,00,000 (Six Lakhs) equity shares of the Target Company i.e. Mayur Leather Products Limited."

The filing provides a clear before‑and‑after snapshot of the promoter’s shareholding, the percentage of voting rights transferred, and confirms that the total equity share capital of the company remains unchanged at 48,348,000 shares of Rs 10 each.

Details of the share sale

• Seller / promoter: Arnita Poddar (Chairperson, promoter group)\
• Persons acting in concert (PAC): Rajendra Kumar Poddar, Akhilesh Poddar (no shares bought or sold by them in this filing)\
• Number of shares sold: 600,000 equity shares\
• Percentage of total voting capital sold: 12.41%\
• Date of sale / receipt of intimation: 12 June 2026\
• Mode of acquisition/sale: Off‑market (not an open‑market transaction)\
• Pre‑sale holding (Arnita Poddar): 686,100 shares, representing 14.19% of voting rights\
• Post‑sale holding (Arnita Poddar): 86,100 shares, representing 1.78% of voting rights\
• Total voting capital of the company: 48,348,000 shares (unchanged before and after the sale)\

The filing notes that there were no encumbrances, pledges, or other voting rights held by the seller outside of the shares disclosed. No warrants, convertible securities, or other instruments were involved in the transaction.

Regulatory background

Regulation 29(2) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 requires any person or entity acquiring or disposing of more than 1% of the voting rights in a listed company to disclose the transaction to the stock exchange within two working days. The purpose is to ensure transparency for shareholders and the market, allowing investors to assess changes in control or influence over the target company.

In this case, the promoter’s disposal of 12.41% of voting rights clearly exceeds the 1% threshold, triggering the mandatory filing. The disclosure also confirms that the promoter group remains a shareholder, albeit with a substantially reduced stake.

Key facts at a glance

Why this matters for investors

The reduction of the promoter’s stake from 14.19% to 1.78% is material for shareholders who monitor control dynamics. While the promoter group still retains a nominal shareholding, the loss of a sizable block of voting rights may affect the perceived influence of the promoter in board decisions and strategic direction. However, the filing does not indicate any change to the company’s capital structure, dividend policy, or operational outlook. There is also no dilution of existing shareholders because the transaction involved a secondary sale of existing shares rather than a fresh issue.

Investors should note that the disclosure satisfies regulatory requirements; no further approvals or shareholder votes are required for this off‑market disposal. The company’s total share capital remains unchanged, and there is no indication of additional share transactions pending.

Conclusion

Mayur Leather Products Ltd has complied with SEBI’s takeover disclosure rules by reporting the sale of 600,000 shares by its promoter, Arnita Poddar, on 12 June 2026. The transaction reduces the promoter’s voting power to 1.78% of the company’s total share capital. No other parties acquired shares in this filing, and the company’s capital structure remains unchanged. The disclosure is now part of the public record, and investors can assess the impact of the reduced promoter stake on corporate governance and future decision‑making.