The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sudhir Reddy Posireddy & Others
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Source Industries (India) Ltd informed the exchange about a disclosure filed under Regulation 29(2) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011. The filing was made by Sudhir Reddy Posireddy along with persons acting in concert, reportedly covering both acquisition and sale of shares/voting rights in the company. Specific share counts and percentage changes are difficult to verify precisely from the garbled source document, but the filing indicates changes to promoter-group holdings exceeding the 2% disclosure threshold. The disclosure was received on the exchange on 14 May 2021.
This is a routine regulatory disclosure indicating that promoter-group members (Sudhir Reddy Posireddy and PACs) have crossed the 2% change threshold in their shareholding. Retail investors should check the actual buy/sell direction, quantities, and the post-transaction promoter holding percentage, as frequent or large swings near takeover thresholds could affect control dynamics and stock price sentiment.