What’s new

• Chairperson Amita Poddar sold 12.41% stake, reducing her holding to 1.78%.
• Exit follows complete sell-off by fellow promoter Rajendra Kumar Poddar.
• Company reports zero operating revenue and carries a going concern warning.

Why it matters

For a nano-cap with a market cap of just ₹9 crore, two promoters exiting in quick succession is as clear a signal as management can send. The stock already had zero revenue and NPA status. This sale removes any remaining promoter skin in the game.

What we’re watching

• Any further promoter or director sales.
• Whether the company can secure alternative funding to continue operations.
• Potential regulatory scrutiny given the distressed state.

The full read

Mayur Leather Products has lost a second major stakeholder in less than a month. Amita Poddar, chairperson and promoter, sold 12.41% of the company on June 12, paring her stake to 1.78% from 14.19% — and following the complete exit of fellow promoter Rajendra Kumar Poddar. For a nano-cap with a market cap of ₹9 crore, zero operating revenue and a going-concern warning, that is effectively a clean break from promoter capital. With 1.78% left, Ms Poddar's economic interest is near zero. Investors who held on hoping for a turnaround must now weigh the possibility that even internal capital has abandoned the stock.

Primary source: BSE · NSE