The Indian promoters of SQL Star International Ltd have reduced stake in the company by four per cent over the last six months to 27 per cent.
Promoters stake in the company increased to 31 per cent after capital infusion into the company through rights and preferential issue last year.
They appear to have offloaded the stake they picked up through the preferential issue over the last six months and have brought it down to pre-issue level of 27 per cent.
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The promoters had infused fund into the company to meet working capital requirements, to fund capital expenditure and develop future business opportunities.
The total promoters holding has increased from 55 per cent to 57 per cent in the last six months under the head