Media and entertainment firm Pyramid Saimira today said its promoter Nirmal Kotecha has sold his entire holding of 0.24 per cent in the company.
In a disclosure to the Bombay Stock Exchange, the company said one of its promoters Kotecha has sold 67,502 shares, representing 0.24 stake, in the company on February 2. Post sell off Kotecha's holding in Pyramid Saimira has come down to nil.
Kotecha, who held 70,36,619 shares representing 25 per cent stake in Pyramid Saimira as of September 2008, has been selling shares since November last year.
As of December quarter, Kotecha held 36,53,600 shares representing 12.92 per cent stake in the company as per data available on the BSE.
Last month, the media firm had said Kotecha, one of the founder promoters of the firm, is neither a director nor a major stakeholder of the company as his holding has been reduced to 0.24 per cent.
Last year in November, Kotecha had resigned as a non-executive and non-independent Director from the board of the company.
Shares of Pyramid Saimira today plunged five per cent to hit its lower circuit at Rs 21.90 on the BSE.
