GVP Infotech Limited — Important, 17-12-2024: Updates

The promoter group of GVP Infotech Limited intends to divest up to 1.23% of its total paid-up equity share capital, approximately 19,95,860 equity shares, to comply with Minimum Public Shareholding (MPS) regulations. This sale is part of an ongoing process to increase public shareholding to at least 25% by September 2025. The promoter, Mr. Dhaval Jitendrakumar Mistry, as Trustee of Linkstar Trust, will sell these shares in the open market, with the divestment scheduled to complete by December 26, 2024. The company has already sold around 32,56,377 shares in prior tranches during FY 2023-24, indicating a proactive approach towards meeting regulatory requirements. This strategic move is likely to enhance liquidity and investor confidence in the company's stock, and should be watched closely by shareholders.