The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Hindustan Cotton Company & Others
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Sarla Performance Fibers Limited informed the exchanges about a disclosure received from Hindustan Cotton Company, part of the promoter/promoter group, under Regulation 29(2) of the SEBI Takeover Regulations, 2011. Before this transaction, the promoter group's total holding stood at 4,75,44,157 shares, representing 56.9371% of the company's paid-up share capital. The promoter group acquired an additional 15,632 shares, equivalent to 0.0187% of the total share capital. The disclosure was signed by Sarladevi Madhusudan Jhunjhunwala, partner of Hindustan Cotton Company, and the document was filed by Krishna Jhunjhunwala, Director of the company.
This is a marginal increase of just 0.0187% by the promoter group, taking their effective holding only fractionally higher from 56.94%. The transaction is too small to have any meaningful impact on shareholding dynamics or stock price, and is likely a routine market purchase requiring disclosure due to the promoter group's large existing stake.