Monika Garware 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.
GRWRHITECH · price
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Awaiting price reaction for this filing.
Monika Garware, on behalf of the promoter and promoter group of Garware Hi-Tech Films, has filed the annual disclosure required under SEBI's Takeover Regulations. The filing declares that none of the 12 promoter group entities — including individual promoters (Shashikant Garware, Sheela Garware, Sarita Garware Ramsay, Sonia Garware, and Monika Garware), family trusts, and promoter-group companies — created any encumbrance (such as pledge or lien) on their shares during FY 2024-25. This is a routine yearly compliance requirement for all listed companies with promoter holdings. The declaration confirms the promoter group's shareholding remained free of any encumbrances throughout the financial year.
This is positive for shareholders as it signals that promoters did not need to pledge their shares for any funding needs, indicating financial stability of the promoter group. No material impact on stock price is expected as this is a routine compliance filing.