Siti Networks Limited has informed the Exchange regarding 'Undertaking confirming that the Company is not a large corporate as per criteria given under the SEBI circular SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021 (updated as on April 13, 2022)'.
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Awaiting price reaction for this filing.
Siti Networks Limited has submitted an undertaking to the exchange stating that it does not qualify as a 'Large Corporate' under the SEBI circular dated August 10, 2021 (updated April 13, 2022). The SEBI large corporate framework typically applies to listed entities whose outstanding listed borrowings exceed a specified threshold, requiring them to raise at least 25% of their incremental borrowings through the corporate bond market. By confirming it falls outside this classification, the company is stating that this mandatory bond-market borrowing requirement does not apply to it. This is a routine compliance filing with no change in the company's financial position or borrowing structure.
This is a procedural compliance filing and is unlikely to have any material impact on the stock price. It simply confirms that Siti Networks is not subject to the SEBI large corporate borrowing norms for the relevant period.