Madhav Copper Limited has informed the Exchange regarding 'Disclosure under Regulation 29(2) of SEBI(SAST) Regulation, 2015'.
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Madhav Copper Limited (previously known as M Tek Copper Limited) has submitted a disclosure to the stock exchange under Regulation 29(2) of the SEBI Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2015. This regulation requires promoters and persons acting in concert to disclose any acquisition or disposal of shares exceeding 2% of the company's share capital in a financial year. The exact nature of the transaction (purchase or sale) and the percentage involved are not specified in the headline. Shareholders should look to the detailed disclosure for specifics on the change in promoter/promoter group shareholding.
This is a routine regulatory disclosure related to a change in promoter group shareholding, and may cause minor short-term sentiment impact depending on the direction and size of the transaction. Investors should review the detailed filing to understand if promoter confidence is increasing (buying) or decreasing (selling).