Afloat promoters sell more shares, stake drops to 18%
Pawan Kumar Mittal and Kiran Mittal unloaded 320,000 shares over two days, continuing a pattern that has shrunk promoter holding from over 29% to 18.14% in weeks.
— 6 earlier stories on Afloat Enterprises Ltd. →What's new
- Promoters sold 320,000 shares (2.54% of equity) on June 19 and 22, reducing the group's stake to 18.14%.
- The sale follows a streak of promoter exits that have cut the holding from over 29% in recent weeks.
- The company, worth ₹18 crore, now has promoters owning less than a fifth of its tiny equity base.
Why this matters
For a nano-cap with ₹1 crore quarterly sales and a market cap of just ₹18 crore, every promoter exit hurts. The group has sold 11% of the company in under two weeks, after freeing shares from pledge. Confidence in management commitment is vaporising.
What we're watching
- Whether the selling continues or stabilises; the pattern is accelerating, not slowing.
- Any regulatory response from exchanges or SEBI given the rapid stake erosion.
- The next quarterly results: can the business sustain any credibility with promoters exiting?
The full read
Afloat Enterprises' promoters are in exit mode. On June 19 and 22, Pawan Kumar Mittal and Kiran Mittal sold 320,000 shares ( 2.54% of the tiny equity base) in open market transactions. The duo now own 18.14% of the company, down from 20.69% before the sale and from over 29% just weeks ago. This is the third such disclosure in 10 days; previous sales stripped 5.42% in a single day and another 2.07%. The company has a market cap of just ₹18 crore and trailing quarterly sales of ₹1 crore. Promoters freed an 11.25% pledged stake on June 13 and have been selling ever since. For a nano-cap with negligible revenue, this pattern signals distress. The open question is who is buying and at what floor.
Questions answered
- How many shares did the promoters sell and when?
- Pawan Kumar Mittal and Kiran Mittal sold 220,000 and 100,000 shares respectively on June 19 and 22, 2026, totalling 320,000 shares or 2.54% of equity.
- What is Afloat Enterprises' market cap and promoter stake now?
- The company has a market capitalisation of roughly ₹18 crore. Post-sale, promoter group holds 18.14%.
- Is this part of a larger trend?
- Yes. In the last two weeks alone, promoters have sold over 11% of the company, after freeing a pledged stake of 11.25% on June 13.
- How material is a 2.54% sale for a nano-cap?
- It exceeds the 1% materiality threshold for nano-caps, and for a company with just ₹18 crore market cap, even small sales can move the stock significantly.
Afloat Enterprises Ltd.
Latest quarter · Mar 2026
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Story so far
All notes on ADISHAKTI →- 23 Jun 2026 · 5:17 PM IST Afloat promoters sell more shares, stake drops to 18%
- 3d ago Afloat Enterprises promoters sell 5.42% stake in single day
- 5d ago Afloat promoter Rukmani Mittal sells 2.07% stake in two days
- 10d ago Afloat promoter frees entire 11.25% stake from pledge
- 11d ago Afloat promoter Kiran Mittal sells 340,000 shares, stake down to 2.37%