Syncom Formulations (India) 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.
Syncom Formulations' promoters, Kedarmal Shankarlal Bankda and Vijay Shankarlal Bankda, along with persons acting in concert, have submitted their annual compliance disclosure for FY ending 31st March 2025. The promoters declared that no new encumbrances (pledges or charges) were created on the company's shares during the year, other than those already disclosed earlier. The disclosure also notes that certain shares held by promoter Kedarmal Bankda (2.40 crore shares), PAC Vimla Bankda (4.0047 crore shares), and PAC Asha Vijay Bankda (1.35 crore shares) are under lock-in until 30th June 2025 due to conversion of warrants into equity shares under a preferential issue. This is a routine yearly regulatory filing and not a new corporate action.
This is a routine annual compliance filing with no negative news for shareholders. The confirmation that no new pledges or encumbrances were created is mildly positive. However, investors should note that a large block of promoter/PAC shares (totalling around 7.75 crore shares) will exit lock-in on 30th June 2025, which could create some supply-side pressure on the stock post that date.