Avalon Technologies Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Avalon Technologies Limited has submitted a disclosure to the exchange under SEBI Takeover Regulations, signed by promoters Kunhamed Bicha and Bhaskar Srinivasan. Both promoters have declared that during FY 2024-25, they have NOT created any encumbrance (pledge, lien, or charge) on the equity shares held by them or persons acting in concert, either directly or indirectly. The filing includes an annexure listing promoter and promoter group shareholdings, with Kunhamed Bicha holding 21.81%, Bhaskar Srinivasan holding 14.45%, and several promoter group entities collectively holding around 50.56% of the company. The disclosure is a routine annual compliance requirement for promoters.
This is a neutral-to-positive disclosure for shareholders, as it confirms that promoters have not pledged or encumbered their shares during the year, eliminating concerns about potential forced sales or margin calls. It also signals compliance with SEBI takeover regulations.