Tamilnadu Industrial Development Corporation 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.
TITAN · price
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Tamilnadu Industrial Development Corporation Limited (TIDCO), a promoter of Titan Company, has filed a disclosure under Regulation 31(4) of the SEBI Takeover Regulations, 2011. This regulation requires entities holding more than 25% of a company's shares to report any further acquisition or sale exceeding 2% of share capital in a financial year. The filing confirms TIDCO's compliance with this disclosure requirement for Titan Company. Specific details on whether the move involved buying or selling shares, and the exact size of the change, are not mentioned in the announcement.
This is a routine compliance filing and is unlikely to materially affect Titan's share price on its own. Investors should watch for any follow-up disclosure or bulk deal data to confirm whether TIDCO increased or trimmed its stake.