Narayan Sitaram Saboo 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.
BIGBLOC · price
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Narayan Sitaram Saboo, a promoter of Bigbloc Construction Limited, has submitted a disclosure to the exchange under Regulation 31(4) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011. This regulation applies when a person acquires shares taking their aggregate holding above 25% of voting rights, requiring them to declare their intent (or lack thereof) to seek further control beyond the permissible creeping acquisition limit. The filing itself only confirms submission of the disclosure; the actual details of shareholding changes or intentions are not contained in this announcement.
This is a routine regulatory compliance filing and is unlikely to have any material impact on the stock price. It merely confirms that the promoter has adhered to SEBI's takeover code disclosure requirements.