Avinash Sethi 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.
INFOBEAN · price
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Avinash Sethi, a promoter of InfoBeans Technologies, has submitted a disclosure to the exchange under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires shareholders holding more than 25% of voting rights to confirm they have not breached the creeping acquisition limit of acquiring additional shares exceeding 5% in a financial year outside of a public offer. The filing is a routine compliance submission indicating adherence to takeover code limits on incremental share purchases.
This is a routine regulatory compliance disclosure and is unlikely to have a material impact on the stock price. It simply confirms that the promoter is within permitted acquisition limits, providing reassurance to investors about governance compliance.