Summary of Shares pledge, released and sale since 1st Oct’15
Date-wise Pledge created Since 1st Oct’15
Date-wise Pledge Released Since Oct’15
Promoter Sold in total 4cr shares (Geeta – 247000 and Rajesh&geeta – 153000) on 3rd Dec’15.
From the summary table – promoter pledge has come down drastically from 43.2% as of Sep’15 to 0.3% as per my workings based on disclosures company has made on BSE
I think @Lynchfan and @hazariwalapu indicated, and it gets clearer that sale of shares is primarily to release shares
Hope this help
Disclosure: not invested, will monitor further developments before taking a plunge..inclined to invest
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