Redtape Shares Plunge 7% Despite Promoters' Clarification on Stake Sale Rumors

• Redtape shares dropped over 7% to 120 rupees on Wednesday, January 14, following a 12% surge the previous day.
• The initial surge was driven by a Reuters report suggesting the Mirza family (Redtape's founder) was considering selling their majority or entire stake.
• Private equity firms Blackstone and KKR reportedly showed interest in the potential $510 million deal, with Ernst & Young appointed as financial advisor.
• Redtape promoters clarified that no such development requiring public disclosure under SEBI regulations has occurred.
• Promoters held a 71.8% stake in Redtape at the end of the September quarter; shares had already fallen 44% earlier in 2025.

Why It Matters: Redtape shares fell sharply despite promoter clarification, indicating market uncertainty over stake sale rumors.