PRAKASH M. SANGHVI 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.
Prakash M. Sanghvi, the promoter of Ratnamani Metals & Tubes, has submitted a disclosure under Regulation 31(4) of the SEBI Substantial Acquisition of Shares and Takeovers Regulations, 2011. This regulation requires promoters or acquirers who already hold more than 25% of a company's shares to make a specific disclosure when their shareholding changes, as they cannot buy more shares without launching an open offer for at least 26% of the company. The filing indicates the promoter is at or near the 25% shareholding threshold. Exact acquisition size and revised holding percentage are not detailed in this headline.
For retail shareholders, this is largely a regulatory compliance update rather than a major event. However, it signals that the promoter holds a significant stake and any further purchase by him could trigger an open offer, which may affect share availability and price. No immediate impact on stock price is expected.