NextWave Communications Private 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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NextWave Communications Private Limited, an entity related to HFCL, has filed a disclosure under Regulation 31(4) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011. This regulation requires any shareholder holding 5% or more of a company's shares to disclose that they have not acquired additional shares exceeding 2% of the company's total share capital in a financial year without triggering an open offer. The filing confirms NextWave Communications is staying within the creeping acquisition limit prescribed by SEBI for substantial shareholders.
This is a routine compliance filing and signals that the entity is operating within SEBI's takeover code limits, with no immediate impact on share price or shareholder structure.