Redtape Shares Plunge 7% Amidst Stake Sale Rumors; Promoters Clarify Position

• Redtape Limited shares fell over 7% on Wednesday, marking the fourth decline in five trading sessions.
• The stock had surged 12% on Tuesday following a Reuters report about founders exploring a majority stake sale.
• Reuters claimed the Mirza family appointed Ernst & Young as financial advisor for a potential $510 million deal.
• Redtape promoters clarified no disclosure-worthy event occurred, but they continuously evaluate strategic opportunities.
• Promoters held 71.8% stake as of September quarter; shares are down 44% in 2025.

Why It Matters: Redtape shares dropped sharply after promoters denied immediate stake sale, despite earlier reports of a potential deal.