The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Citric India Ltd
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Citric India Ltd, part of the promoter/promoter group of Chemo Pharma Laboratories Ltd, has disclosed under SEBI SAST Regulation 29(2) that it sold its entire holding of 3,69,500 equity shares, representing 24.63% of the target company's share capital. The transaction was carried out on 11 July 2025 through the open market pursuant to a Share Purchase Agreement dated 18/02/2025 related to an Open Offer. After the sale, Citric India Ltd's holding in Chemo Pharma Laboratories Ltd has dropped from 24.63% to zero, representing a complete promoter-group exit. The total equity share capital of Chemo Pharma Laboratories Ltd remains unchanged at Rs. 1.5 crore (15 lakh shares of Rs. 10 each).
This is a significant negative signal for shareholders of Chemo Pharma Laboratories Ltd — the promoter group entity is exiting entirely, which may pressure the stock price due to loss of promoter skin-in-the-game and signal weakening confidence in the company. Investors should watch for any further disclosures from the acquirer in the open offer process.