The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Elpro International Ltd & PACs
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Awaiting price reaction for this filing.
The stock exchange has received a disclosure under SEBI's Takeover Regulations from Elpro International Ltd along with Persons Acting in Concert (PACs) relating to changes in their shareholding in International Conveyors Ltd. Regulation 29(2) filings are triggered when an acquirer's voting rights change by more than 2% in a listed entity. The specific direction of the change (acquisition or sale) and the exact quantum are not detailed in the headline itself. Elpro International Ltd is part of the promoter group of International Conveyors Ltd, so this disclosure relates to promoter-group shareholding movement.
This is a routine regulatory disclosure and does not by itself signal any corporate action. Shareholders should watch for the detailed filing to see whether the promoter group increased or reduced its stake, as that could influence sentiment.