Afloat promoter Kiran Mittal sells 340,000 shares, stake down to 2.37%
Mittal's stake drops from 5.07% to 2.37% in two days, following a 230,000-share sale on June 10. Another promoter has pledged his entire 11.25% holding.
— 2 earlier stories on Afloat Enterprises Ltd. →What's new
- Kiran Mittal sold 340,000 shares (2.70% of equity) on June 11-12, cutting her stake from 5.07% to 2.37%.
- This follows a 230,000-share sale on June 10.
- Another promoter had already pledged his entire 11.25% holding for margin requirements.
Why this matters
For a ₹17 crore market cap company with revenue that collapsed 70% last year, a promoter selling 2.70% of equity in two days signals extreme distress. It erodes minority confidence and raises questions about the promoters' commitment.
What we're watching
- Whether Mittal or other promoters sell more shares in the coming days.
- Any updates on the pledged promoter's margin position or potential forced selling.
- If the company can sustain operations with such weak financials and promoter exits.
The full read
Afloat Enterprises promoter Kiran Mittal sold 340,000 shares on June 11-12, cutting her stake from 5.07% to 2.37% — just two days after she dumped another 230,000 shares. That's 2.70% of equity in two days. The tiny ₹17 crore market cap and 70% revenue collapse to ₹179.79 lakh in FY26 point to distress. Another promoter has already pledged his entire 11.25% holding for margin. Insiders are exiting.
Questions answered
- What was the size of the latest promoter sale by Kiran Mittal?
- Kiran Mittal sold 340,000 shares (2.70% of equity) on June 11 and 12, reducing her stake from 5.07% to 2.37%.
- What is the financial condition of Afloat Enterprises?
- Afloat's annual revenue for FY26 was ₹179.79 lakh, down 70% from the prior year. Market cap is about ₹17 crore.
- Is this promoter selling related to the earlier pledge by another promoter?
- Not directly, but both events point to promoter-level financial strain. Another promoter had pledged his entire 11.25% stake for margin.
- What does this mean for minority shareholders?
- Rapid promoter exits in a nano-cap with collapsing revenue are a strong negative signal. It suggests the promoters may see little future in the business.
Afloat Enterprises Ltd.
Latest quarter · Mar 2026
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All notes on ADISHAKTI →- 12 Jun 2026 · 5:38 PM IST Afloat promoter Kiran Mittal sells 340,000 shares, stake down to 2.37%
- 1d ago Afloat promoter sells ₹29 lakh of stock as revenue falls 70%
- 17d ago Afloat Enterprises revenue collapses 70% as profits vanish