SPIC files Reg 31(4) disclosure on Tamilnadu PetroProducts shares

Creeping Acquisition Near ThresholdOwnership Changes View source PDF

TNPETRO · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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₹90.72

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AI summary

Southern Petrochemical Industries Corporation (SPIC), a promoter of Tamilnadu PetroProducts, has filed a disclosure with the Exchange under Regulation 31(4) of SEBI Takeover Regulations, 2011. This regulation applies when an entity acquires shares of a listed company without crossing the 5 percent shareholding threshold. By filing this, SPIC confirms that it does not intend to acquire further shares that would push its holding to 5 percent or above in the next 60 trading days.

Likely market impact

Routine regulatory filing. No change in control expected. SPIC is signalling no takeover intent at present.