Ponni Sugars (Erode) Limited 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.
Ponni Sugars (Erode) Limited, a promoter of Seshasayee Paper and Boards, has filed its annual disclosure under Regulation 31(4) of SEBI's Takeover Regulations for FY 2024-25. The company holds 88,40,905 equity shares in Seshasayee Paper and Boards, representing 14.02% of the total share capital. The declaration states that no encumbrance (pledge, lien, or any similar charge) was created directly or indirectly on these shares during the financial year ended March 31, 2025. This is a routine annual compliance filing required of every person holding more than 10% as a promoter. The filing does not mention any change in the promoter's shareholding or any release of existing encumbrance.
This is a routine compliance filing with no material impact on the stock price. The confirmation that the 14.02% promoter stake held by Ponni Sugars remains free of any pledge or encumbrance is mildly reassuring for shareholders, as it reduces concerns over any forced selling pressure on these shares.