Raman Hirji Maroo 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.
SHEMAROO · price
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Raman Hirji Maroo, a promoter of Shemaroo Entertainment, has filed a disclosure with the stock exchange under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires promoters or persons acting in concert to disclose their intent when their holding crosses the 25% threshold and they make incremental acquisitions of more than 5% in a financial year. The filing essentially states whether the promoter intends to continue as a promoter or not. No specific shareholding numbers or transaction details are mentioned in this headline-level announcement.
This is a routine regulatory compliance filing by a promoter. It signals that the promoter's shareholding may be near or above the creeping acquisition threshold, which could indicate continued promoter confidence, but on its own it is unlikely to move the stock price meaningfully.