SAST Disclosure

A SAST disclosure is a filing required under SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011, revealing that an investor has acquired — or changed — a meaningful stake in a listed company.

The core thresholds: any acquirer crossing 5% of a company's shares must disclose it, and once above 5%, further changes of 2% or more (up or down) trigger fresh disclosures. Promoters also file annual and event-based disclosures, including on pledges, under the same regulations. Crossing 25% triggers the biggest consequence — a mandatory open offer to public shareholders.

For investors, SAST filings are the official record of who is accumulating. When a respected institutional investor or a strategic acquirer crosses 5%, the market notices; a promoter steadily adding through creeping acquisition (permitted within annual limits) is read as insider confidence.

Read them alongside bulk/block deal data: SAST tells you who crossed a threshold; the deals data often shows the price and counterparty of the actual trades.

How stocks tend to react

Disclosures showing credible buyers building stakes are usually positive triggers — sometimes sharply so if the acquirer hints at strategic intent, since the 25% open-offer threshold looms behind any sustained accumulation. Stake reductions by promoters or large holders are typically read negatively, though the reason (deleveraging vs exit) shapes the response.

MarketPing measures this instead of guessing: every analysed announcement carries the stock's actual price reaction across 14 horizons, and the Reaction Lab aggregates how each category of announcement has historically moved stocks.

Related terms

Educational content, not investment advice. Regulations and tax rules change — verify current rules before acting.