Gaurav Manchanda 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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Awaiting price reaction for this filing.
Gaurav Manchanda has filed a Disclosure under Regulation 31(4) of SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011, with the exchanges. This regulation requires promoters (and members of the promoter group) to disclose every change in their shareholding in the company — whether due to market purchases or sales — between two reference dates. The headline itself does not specify whether this is a buy or a sell, the exact number of shares involved, or the resulting shareholding percentage. Investors would need to read the actual disclosure document to know the direction and size of the change. Such filings are routine compliance disclosures under Indian securities law and are typically filed once or twice a year by promoter-group entities.
No immediate price impact is expected from this filing — it is a regulatory compliance disclosure rather than a corporate action. The market reaction, if any, will depend on the size and direction of the shareholding change once the full disclosure is reviewed.