The Company is not a large corporate as per SEBI circular dated 16.11.2018 regarding fund raising by issuance of debt securities S Aravinthan Company Secretary
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
National Fittings Ltd has informed BSE that it does not qualify as a 'large corporate' under SEBI's circular dated November 16, 2018, which deals with fund raising through debt securities. The SEBI circular requires large corporates to raise a minimum portion of their borrowings through listed debt securities. By clarifying this status, the company is confirming that these mandatory debt issuance requirements do not apply to it. The filing was signed by S Aravinthan, Company Secretary. The announcement appears to be a routine compliance/clarification submission to the exchange.
This is a neutral administrative clarification with no material impact on shareholders. It simply means the company is below SEBI's 'large corporate' threshold and therefore has more flexibility in choosing how to raise funds, without being forced to tap the listed debt market. No direct effect on stock price or shareholder value is expected.