3M Company Initiates Takeover of 3M India Limited; Disclosure Filed under SEBI Regulation 31(4)

M&A / JV 19 Jun 2026 · Announced· ✓ Verified

3M Company has submitted a Regulation 31(4) disclosure to NSE regarding substantial acquisition of shares and takeover code compliance for 3M India Limited, a publicly-listed subsidiary. Regulation 31(4) mandates disclosure once a party acquires 5% or moves towards control. The filing does not specify the offer price, number of shares tendered, or final consideration; these details are typically contained in the full tender offer document and SEBI approval order. Depending on the ultimate holding structure post-acquisition, a scheme of arrangement under the Companies Act 2013 may follow.

Why it mattersA listed subsidiary acquisition by its foreign parent triggers full SEBI takeover code compliance including mandatory open offer thresholds, escrow, credit rating, and possibly scheme of arrangement depending on ultimate structure; precedent on whether an intra-group acquisition can be structured as a delisting vs. full takeover offer.
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